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Binance Coin
#1
I don't like centralized exchanges, but this is about the coin.
It could be an interesting investment opportunity.
Don't take my word for granted, but look;

Binance Coin (BNB) has already had an incredible start to 2019, increasing from $6 to almost $20 in just a few months. This type of return hasn’t been seen for a very long time in the crypto space.
BNB currently sits within the top 10 cryptocurrencies by market cap, and has a very high volume due to Binance pushing the use of their native token.



BNB has a total supply of 200 Million and is actually an ERC-20 Token - meaning it runs on the Ethereum Blockchain - and is compatible with MyEtherWallet and all other ERC-20 Token wallets.
BNB is Binance’s native token, and performs many functions on the exchange and throughout the ecosystem.


Binance promotes using their native token by offering substantially discounted trading fees when using BNB. This alone will shift a proportion of traders and investors to choose BNB as their currency pair instead of Bitcoin or Ethereum.
As Binance controls a significant amount of volume, they have a huge audience that can (and will) use BNB to trade.

Binance have very cleverly (and recently) introduced their launchpad ICO platform where users can invest directly in vetted ICOs on Binance. Binance have changed the rules to a lottery based system where users will be randomly selected to participate in the ICO’s, but there’s a catch… they have to own BNB.
Users can gain up to 5 tickets by holding a certain amount of BNB.
WARNING: Due to the nature of this lottery based ICO, expect volatility in the price near the time of the ICOs.

Why could this be a good opportunity?

The “Secret” that many people overlook… “Binance plans to use 20% of [their] profits each quarter to buy back and burn BNB, until 50% of the total BNB supply (100 million BNB) is burned.”

In other words, the supply is constantly decreasing and will stop at 100M.
So, as supply decreases, take into account the following…
  • Binance is the most popular exchange, and has positioned itself to be so for the foreseeable future.
  • As the overall market cap increases, users on the platform will increase in parallel - meaning BNB will naturally have a higher demand (for the reduced fees).
  • As the market increases, demands for ICOs will increase in parallel - meaning the demand for Binances launch pad will increase.
  • As the market cap rises, Binances profits will increase (more users, more volume etc).
  • The profits used to Binance Coin will increase the price of BNB (given a rising / flat market)
  • As the supply dwindles down to 100M, the economics of supply vs demand will increase - meaning people will FOMO into BNB.
  • Rising tide… even without the above, BNB will increase with the overall market cap. But the above reasons are why I believe it will increase much more than average. 
So a discussion is open.
What are your opinions?
What is this thing that builds our dreams, yet slips away from us?

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#2
I heard Changpeng Zhao (CZ), CEO of Binance in "The bad crypto podcast" some weeks ago (https://badcryptopodcast.com/2019/03/14/...nance-250/). He did okay, but is no mastermind. Yes Binance had the fastest growth ever and seems like a serious business. I'm pretty sure you can make a lot of money by speculating in BNB, but for me it's not attractive since the token is only made to make the Binance owners even more rich. The same principle apply to all other exchange tokens. I don't like that principle at all. The only sure winner is Binance. Having a lottery system is even worse. Such a system is only made to draw people into the platform for their winnings.

Still you can of course make a lot of money or you can lose a lot of money, but Binance wins no matter what.

Regarding Changpeng Zhao he has been very lucky with the timing and the business. Now he is a billionaire. Congrats....but he is in it for the money ONLY and not to make a truly decentralized fair system. That said they are working on a decentralized exchange, but again that is for their own winnings.

I like that Binance is reliable, but I also know I make the Changpeng Zhao even more rich each time I use it.
Cardano is the most promising 3 gen. crypto right now.


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#3
(2019-04-04, 09:17 AM)Carsten Wrote: I heard Changpeng Zhao (CZ), CEO of Binance in "The bad crypto podcast" some weeks ago (https://badcryptopodcast.com/2019/03/14/...nance-250/). He did okay, but is no mastermind. Yes Binance had the fastest growth ever and seems like a serious business. I'm pretty sure you can make a lot of money by speculating in BNB, but for me it's not attractive since the token is only made to make the Binance owners even more rich. The same principle apply to all other exchange tokens.  I don't like that principle at all. The only sure winner is Binance. Having a lottery system is even worse. Such a system is only made to draw people into the platform for their winnings.

Still you can of course make a lot of money or you can lose a lot of money, but Binance wins no matter what.

Regarding Changpeng Zhao he has been very lucky with the timing and the business. Now he is a billionaire. Congrats....but he is in it for the money ONLY and not to make a truly decentralized fair system. That said they are working on a decentralized exchange, but again that is for their own winnings.

I like that Binance is reliable, but I also know I make the Changpeng Zhao even more rich each time I use it.
I completely understand you point of vue and I agree.
But as always; when you win others win 10X more. That's the name of the game. I don't like this idea but so it is.
I prefer exchanges to gain money than banks to gain money.
Banks do nothing for us with their money. At least a company like binance is doing something. At this moment they invest in a DEX.
What is this thing that builds our dreams, yet slips away from us?

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#4
Important for BNB hodlers. 
Binance completes BNB mainnet swap, burns 5 million ERC20 tokens.

Don't forget to swap your BNB coins (ERC20 tokens) to BEP2.
For instructions read https://www.theblockcrypto.com/tiny/bina...20-tokens/

For those who have BNB in Exodus wallet read https://support.exodus.io/article/1139-e...nb-mainnet
If I don't forget I will update this post when Exodus releases the upgrade on april 26th, 2019.
What is this thing that builds our dreams, yet slips away from us?

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#5
If you have BNB on Binance then how does this effect it?
Cardano is the most promising 3 gen. crypto right now.


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#6
(2019-04-24, 07:54 AM)Carsten Wrote: If you have BNB on Binance then how does this effect it?

No Idea. But as I told you many times: don't keep your assets on exchanges!
What is this thing that builds our dreams, yet slips away from us?

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#7
(2019-04-24, 08:53 PM)Hugues Wrote:
(2019-04-24, 07:54 AM)Carsten Wrote: If you have BNB on Binance then how does this effect it?

No Idea. But as I told you many times: don't keep your assets on exchanges!

Yeah....95% of people keep assets on exchanges! I know... I know..
Cardano is the most promising 3 gen. crypto right now.


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#8
(2019-04-25, 07:39 AM)Carsten Wrote:
(2019-04-24, 08:53 PM)Hugues Wrote:
(2019-04-24, 07:54 AM)Carsten Wrote: If you have BNB on Binance then how does this effect it?

No Idea. But as I told you many times: don't keep your assets on exchanges!

Yeah....95% of people keep assets on exchanges! I know... I know..

Get your assets out of exchanges. I told you many times before.
Read what happened:

Binance was hacked for around 40 Million USD worth of Bitcoin.
Binance called the hack a “large scale” data breach whereby hackers obtained users 2FA codes, API keys and personal data which helped them obtain access to a large amount of users funds located on Binance and withdraw over 7,000 BTC in one transaction (apparently).
Binance came out and stated that “The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time,” the statement read. “The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed.”
“…Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.”
What is this thing that builds our dreams, yet slips away from us?

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#9
Binance do a lot to secure the users or at least that's their claims. No one loses any funds
Cardano is the most promising 3 gen. crypto right now.


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#10
(2019-05-08, 09:17 PM)Carsten Wrote: Binance do a lot to secure the users or at least that's their claims. No one loses any funds

Could be but what if one they the hackers steel so much and Binance is not able to pay back the users?
Look what happened with MtGox.
Look at tha banking crisis. Even some big banks went bankrupt.
I wouldn't risk to leave my assets with an exchange.
It's up to you.
What is this thing that builds our dreams, yet slips away from us?

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