Bitcoin Forum

with all the drama about Binance today after they got hacked and also the fact that BNB was already in a big bubble after its pump, how hard do you think their token is going to get dumped now that their business is facing a crisis?

I dont think it will have huge dump because binance is having enough fund to sustain this coin . But safer zone i sold some of my Binance coin which i hold it in exchange . Crypto market about to take off again one more strike happened .

you know this wasn't a couple of thousand dollars lost?
unless this was a fake "hack" and they stole the coins themselves, i seriously doubt they have enough money to cover 1% of their users. this was $40 million theft after all! that can cripple any business let alone some thing like an altcoin exchange.

for as long as they can fix this mess that fall upon BNB, i am sure that it can recover from this dumped, but i know for sure that BNB will stay strong after this being fix.

Yes they should probably fix the mess and everything will be fine again. But, this incident only shows what happens when you put your trust in a centralized entity. The next time something similar happens, things may not be fixable so easily.

The purpose of Bitcoin as a decentralized currency is to protect precisely against such things happening. Unlike bitcoin, BNB is not decentralized and all people that own BNB coins are entirely at the mercy of the entity/company that has issued them.

Binance is now facing a harder situation as the hackers are stolen 7000 Bitcoin from its hot wallet. But, the CEO has already addressed the users via twitter that there will be no effect to our users as Binance will recover self all the affected users. So, during this situation it is obvious that the BNB coin will affect but it is only the short term. So, no need to be panic about the BNB coin.

this is another good proof of how bad centralized coins are.
you can see that the coins that are centralized create a focused singular point of failure. an attack point which can destroy the coin in matter of minutes. not that i am saying it will happen in this case but it is a strong possibility. similar to Bitfinex coin (Tether) that is centralized and has a single point of failure.
hopefully we can see the community take lessons from this huge loss and eventually move towards REAL decentralized exchanges and increase their own security and at the same time protect their identity and privacy too.

Depens to the people if they are going to sell their BNB token for sure the value of tokens decrease because of what happened to the Binance I don't think they have effect on the BNB because as investors of the BNB I will still hold that token because I believe to this token because they have potential and it will not affect my decision even I saw some news account from the Binance hack by the hacker.

The recent hack which many are disappointed and even shocked to learn can have some effects on the BNB token but of course this can easily be  remedied by Binance people by being open about it and the things they are doing to prevent the same thing from happening again. Binance remains to be a very profitable operation and this may not be making a strong punch on their finances...the most important for now is to make sure that all the coins/tokens of the users were not touched so that there will be continuing fear by its customers. I am sure that Binance can easily survive this and if I have the money this can be the best time to enter into BNB.

the drama is not on the HACK itself, but on the sugestion of a ROLL BACK by CZ.... =========> HUGE MANIPULATION! we are not safe, Bitcoin seems not centralized, our core principle (inmutability) is BETRAYED


https://twitter.com/CoinSpice/status/1125979761728049152

I am surprised that BNB is being pumped at gate.io after the hack. Is it the work of Justin Sun and CZ bots? Both surely have a lots of BNB coins to sell. If BNB coins were stolen, CZ would surely have made a rollback...

I still can see that they remain strong after the hack. The lowest that it has been today was around $19.88 as per coinmarketcap and I think that's still quite good amount after experiencing that kind of attack. The price as of the moment is $21 so I don't think that people are losing trust to BNB and the exchange itself.

As per tweet of CZ they are hurt but not broke.

It's an expensive lesson for them but CZ guaranteed that they will cover the losses of those affected ones.

Yes, this is a bit of a concern. But it's not something Binance can just decide to do, they would of course need support of 51% of the power... but it's a concern that it is being raised as a potential fix, and it does highlight the fact that decentralisation never really remains perfect decentralisation.

All is bubble and theres no exception on that.For now BNB isn't still on a brink of hard dump.Yes, it decrease its price because of this hacking drama but not too much.
Either we would see this dumps later on or just the support to BNB is still going strong.Lets see a few more days.

http://i65.tinypic.com/2vn1eg6.png

Let's think the positive side of these hack news. At least the CEO promised to cover any loss and it will not affect to the investors. 40mln$ is not a big amount compared to the hacked 100 million dollars.

No, I don't think this hack will have any significant impact on BNB. Binance has enough funds to compensate for losses, as well as to maintain the price of the token.

Certainly after this bad news about the binance platform, many investors will have FUD, But the CEO of the binance platform reassured investors by a video, He explained that the priority of the team of the platform of the binance now is to rebuild the system within the platform and identify all the security vulnerabilities, The bitcoin wich stolen from the hot wallet accounted for only 2% of the total holdings of the bitcoin on the exchange, I do not think the BNB coin will be affected by the negative after these news because the binance have a lot of liquidity capable of reviving the BNB coin again, I will not sell my BNB coins and I will hold them because this time for binance is the working time and increase efficiency.

i think it will not get that much dump,. but the exchange credibility will go down as security is the main thing in one exchange ( unless this hack was all for drama  ;D )..

I think its time to buy some :-) - It might've bounced 2 or 3 $ downwards, but this wont kill the coin so im pretty sure that we'll see it rise again.

vs btc it is is getting a harder hit, cmc at the moment (-6,09%) and still going down. Wonder if we will see a bottom today but it i would not count on it with btc swinging up.

I don't think BNB will dump hard after the incident that happened yesterday.

As long as they will solve this problem then their will be no problem in it. In fact, this is a good time to buy a bit of BNB to hold because the price got dumped. We know already that Binance is a very reputable exchange and BNB for me is a good coin to hold for a long run.

It already went down ~10%, losing all the gain from April 17 to day. And I expect it'll go lower, at least for a while.
As others said, BNB was a bit overpriced already.
If a better exchange will rise after this mishap (which history shows it has happened in the past) then Binance market share (and BNB quotations) will go down and won't come back up.

Nothing happened to their coins thus far, seems like no crisis as all, Bitcoin even pump today and reached over $6,000.
BNB on the other hand is still steady, looks like people did not lost its trust with Binance.

If you see what happen thats day bitcoin price is have little dump and bnb too, but bitcoin sv is increasing more than 8 percent, i dont know what happen but its intersting in this sequel drama..

Really?  I genuinely hadn't noticed that--I never bought any BNB, but I ended up owning some just from doing trades on Binance, and it didn't seem to me to be on fire or anything.  And right now I could care less if it drops to zero, because I'm having some hard feelings toward Binance ever since they suspended deposits and withdrawals.  There's no word as to when they expect to have those functions back up and running, and I just want to get my coins off that exchange ASAP.

But as far as BNB goes, if Binance gets through this debacle unscathed (relatively speaking), I don't think their coin will suffer all that much.  They have enough of a loyal customer base such that there will still be plenty of support for BNB.  Personally I don't see what the big deal is about the coin.  It's not something I'd want to keep as an investment, and I don't think it offers any advantage over everything else that's on the market--but I've heard it mentioned enough times that I know it has a following, and that following likely won't be diminished because of this hack.  We'll see.

You don’t trust Binance again, you want all their users to lose all the benefit they are enjoying from Binance if they dump the coin, I can see they have already even put some control tools in place by first disabling deposit and withdrawal on the exchange to avoid this,.

Right now, what they will be doing is media publicity to allay the fears of users and what they have been able to put in place to further control or stop any future occurrences. So I dent think there will be any major dump and if there is any, it will be a plus for me, because I will get the opportunity I have been hoping for to buy the coin.

Even after such a big hack the value of Binance coin hasn't got affected big. The price has come low to $20, if it has happened with any of the other leading cryptocurrencies now this could've made a big change in the market fall of the respective coin. With the exchange support BNB is made to stay strong in the market, maybe in the falling days there will be further price dumps.

40$ million is huge amount but this is not enough reason for binance to just drop to nothing, look how large the capitalization of BNB in market so from this they can surely cover the losses.

And the credibility of binance will remain if they. Can passed this crisis,though many exchange has beem also hacked but until now remains credible and trustworthy

Wow, it is really a shame that they will no longer be able to boast of full protection of their users, and they finally have a stain already that they have once been hacked, but that still will not stop them from functioning well, I really wish they can get hold of the culprit.

Oh my Binance, see how it has been disgraced in the midst of the hype that got everyone talking about them, anyway, I still don’t see any other exchange that will meet up to their standard before they get back on their feet, so I am not worried much about them losing their reputation because I know they still have lots of plans for their community that will really wow them and make them forget the past.

BNB going below $20, its pressure since the incident https://www.coingecko.com/en/coins/binance-coin

To me, BNB is not different much than useless tokens, no one can actually invest in bnb. It's rather a token you can trade and make use of it for fee discount etc.

yes, now it is under $ 20, but we don't know what the BNB will be like. It could be that BNB returned its condition and resolved the incident so that it would run properly or it could have fallen. BNB has a strong team so I'm sure they will be able to overcome it.

I think Binance will be fine with Launchpad and the new IEOS, some coins already joining Binance chain and the so-called DEX trading soon.
It's just a matter of time.

Possible! The price havent dump inspite of the hack which do proves out that people do still trust up this exchange.When it comes to security,they might have been breached but for now
they are more secure yet they do know that they have flawed in the past.Good thing on compensating the lost funds which is unusual on most exchangers that do being hacked.
I do see that people do still trust them even me.

Now its get pumped because tomorrow binance launch IEO harmony.one, for user have to staking at least 50 bnb coin when they want to buy harmony on ieo.

Binance and its official coin, bnb, will only experience some mild dump but will not suffer a crisis like the other previously hacked exchanges. The management had already created a SAFU or the Secure Asset Fund for the Users and this separate fund will use as a insurance for the users of binance exchange. The bnb coin is also safe from hard dump as it continue to go up breaking its all-time high this year.

BNB is surprisingly doing well, but it's risky as a one trick pony. if anything happens to binance then the token will be completely worthless. As we have seen binance isn't safu, it can be hacked and it is the number one target for any hacker. Worth keeping some for trades, but not for investing

I am kicking myself because I sold my bnb last week when I thought it was finished going up. I'll see where I buy again.

As we can see Binance coin not was drop in price and not was also dumped, but i hope on future the Binance exchange will be more carefull and take all measures to not happen again a hack.

Binance will not fall down very fast.. as long as they are real and no fraud.. even the recent hacked it has no effect to BNB

I don't think the price will be dumped, even CZK can raise the price of $ 100 BNB. In the future, the domain of the BNB will be even wider. I've invested a little.

IMHO more price movements will be after snapshot for the lottery. After that people will start to sell, overs will start to buy at cheaper prices.  

Fortunately, Binance is among one of the lucky coins like bitcoin that has refused to react negatively to FUD news this period and it’s like every FUD new makes them stronger.

During the time of their crisis, BNB never dropped from their normal value, although I love the way they handled the matter, they had already created the news of it and allayed the fear of investors which had already gone ahead of those who would have used the FUD news against Binance. Whatever drop we see during those periods is just the way other coins are reacting to BTC movement and right now, we can see that Binance is already crossing the value of $30.

I think that today we are only at the beginning of the process, when Binance begins to raise its price.  It’s not even the case that this is practically the most promising and most sought-after trading platform, but BNB is starting to grow due to the fact that Binance offers the best opportunities for IEO.

The market didn't experienced any big crash, and there isn't much of news around as they stopped with support statements providing funds if lost. Further the hack news started to circulate carrying the positive thing within it. Today the price has crossed $34, and in the near there isn't any possible reason for the dump in price.

BNB has a lot of trust from crypto users.  Binance's quality is difficult to destroy by FUD.  Binance's CEO always responds quickly if there is a problem.  the result is 80% of crypto users use Binance as a place to trade.  so Binance is difficult to create market dump and difficult for destroyed.

Amazing thing for an exchange that do have hacking incident which they do able to retain their reputation after such problem which we do know that
most exchangers would fail up mostly on the same scenario where recovering is almost impossible.I do also thought that BNB would have such problem
but we are seeing different things on here.

Binance has a strong team backing it and they have their financial resources. So they can rise quickly with that unfortunate situation. And I don't believe BNB will be dumped. Too dump if they will do. They already created a good foundation and dumping BNB will not be a good option for them.

I wonder when would that trust last if there is a bearish market since most of these newbies are eager to sell everything when they got FOMO/FUD. But anyway, BNB team is really doing great to hype up their tokens that almost gain multiple profits in just a short time.

If the bnb was getting a dump, then I think the price will be back to the earlier price, and it is difficult to increase in a short time again. But maybe our prediction will wrong since bnb has got more support from the user and many of them now are saving more bnb because they believe that bnb price will increase in a short time. I think people still waiting for the next correction that might happen with bnb so they can buy more bnb at a low price.

After the ieo, in any case, there will be a correction. And apparently very good. It remains to wait a couple of days and see.

I'm waiting for a correction too but don't see any signs of it. Very fast grow without any big reason. Sold everything waiting for a correction.

BNB will surely get dumped one day if we are to be realistic, because most investor will eventually get profit out of the system one day which is the reason why they are all investing. Even the mighty bitcoin got dumped at one pint no matter the technology, but what will keep them back together is the product.

This is what many projects lacks that makes them turn shitcoin, because there is no working product to pull them back. How many times bitcoin experienced dumping, but it has doesn’t take so long before it increases back, this is same way binance too will operate, no matter the dump, it will always find its value back.

I think Binance has a strong potential to take place in top rank of the market. I think investors and users still believe in Binance and will be saving more. So BNB will not get dumped so easily, also it remains strong after the unfortunate case about hacking.

But I don't look it happened, the price binance just met a slight dumped. But now, its price has been increasing again and until reach the new high price i.e more than $35. I just weird when an exchange got hacked but the token platform just met a slight dumped and also just give a little affect to the market. As you may know, the price cryptocurrencies when binance got hacked its price down slowly but after that its price rose drastically. Maybe binance has a high credibility and its user believe this situation will not give a huge affect and we can see it.

Agree, as long we some developments and product updates from the team the price of Bitcoin will keep on increasing, now you have to understand as long as a company has active developments with always help to increase BNB value in the coming days.

Well it did have a strong potential,,, when you are a centralized company with a lot of money and people keep giving you trust and business and media also publishes all your opinions, then of course it can always place top. But one day, when something bad happens, the same people will dump BNB and take all the profits at the expense of normal users. Do not think this will never happen!

I invested my first amount of BNB when i saw how they reacted to the hack.
They got some trust now from me.

when their platforms are crowded and continue to carry out their events with full participants I think BNB coin demand will continue to increase. if the IEO done by binance is still trusted and still chooses projects that really have a good future.

The only risk for BNB I see is a problem with laws from the USA for example. They started a lot of IEO on their platform and they are not so transparent as it looks on the first sight.  

The way the Binance team responded professionally to the hacking exchange also impressed me. It’s a pity that I didn’t buy coins when they were worth $6-$7 when I had the opportunity. Although now is also a good time to buy BNB, because the exchange constantly burns a certain amount of coins and this reduces their overall supply.

I think binance already has a solution to that problem. and of course they will not accept IEO sales for projects that are problematic and cannot complete the required administration. there are still many Projects who want to make sales there. I think that is not a big problem.

Burning coins is probably the most effective way to increase the price of a coin if it already has a good popularity. Then, while burning, the demand remains the same, and the quantity of supply is less.

We can see BNC for 50 dollars this summer. Naturally, this token will be one of the coolest gainers when the bulls become more powerful than now. I am sure, BNB investors will make a very good profit.

Binance has much power to recover their suffer zone so i don't think so their coin getting dump very much,, Its going high day by day . BNB in bull market goes also more high zone

Having a good support and secured transactions and BNB and none yet be able to perform better in terms of exchanges then BNB is really unlikely to fall that much. If will take time to break BNB even hacking will not be a problem. Its their time still as long no new competitors born, BNB will not be dumped too much.

i think binance right now is already overvalued good luck for all binance token holders i think speculators have pushed the price very hard is not fair valued anymore - this is not a financial advice :)

It seems to me that lately the users of the cryptocurrency liked the binance very much and this was mainly due to IEO.  It seems that in the future Binance will be able to make a good competition for ethereum, in the field of ico company.

In my humble opinion I think this coin is too much overvalued right now in comparison with bitcoin and more specifically ethereum but you need to see others opinions

BNB isn't looking so hot anymore.  They are running scam IEOs on their exchange and the owner has shown himself to be a loose cannon.  Also they are looking like chumps after delisting SV and it is about to overtake BNBs marketcap.

I think they don't have big effect on what happened to binance exchange last month ago even was hacked by hacker the price of the BNB token is still good and it will not decreased very low but I believe it will up BNB even that's happened because the trust of the traders to binance does not break that result to the BNB to token to increase to $100 possible for the after few months or maybe we wait some years.

Currently, there seems to be a cold war between these coins bnb and bsv if you observe closely. Maybe if bsv continues with the current trend, then it might topple bnb on coinmarketcap

The reason why BNB has been so successful compared to many other coins is because unlike most Crypto coins BNB actually has a use and its to reduce trading fees. This is very important especially to all the high volume traders on Binance.

And you can tell it is useful when other exchange such as Bitfinex are doing the exact same thing and launching their own LEO type of coin. This was actually a very smart part of the Binance CEO and that's why its been so successful.

When it was first launch maybe assumed it would fail and nobody would actually buy BNB but look how successful the coin was compared to other alts.

Always be alert do not be comfortable but I am not against the capability of binance as biggest crypto exchange at the time. But we need to also to secure our investment.

Its going to dumped soon since we haven't seen yet its correction so the hodlers of this coin should not over confident and learn how to take profit. This is like Bitcoin when it was hit the peak and suddenly the price goes down hard. BNB is a good coin no more question about it but I know every coin will have their own correction, no one knows when but being ready to sell is much better than to regret selling at a lower price.

40 million dollars is still not one of the big problems for Binance. they have a reserve fund to prevent bad cases like this. This is considered a great lesson for them about the disclosure of their security system.
but that loss does not affect investors' assets and it is the most positive news. After that negative news, BNB is still trying to grow and its price keeps rising over time.

I'm also not too sure, but in my opinion the coin BNB is very difficult to dump, because fundamentally the BNB is very strong, as evidenced when almost all Altcoin is down, the BNB is still rising

Binance will always be in demand but it will drop as dex and atomic swaps take over. centralised exchanges can be hacked and they don't seems to have enough in cold storage to recover

Yes, already they mentioned they will decrease the supply until their total supply seems to be 100 million, every three-month BNB coin price is kept increasing and you can see already BNB coin is accepted in many stores. So the demand for BNB coin is kept increasing and this is a very good chance to grab BNB coin even at this level.

even when binance is hacked, BNB prices are not so affected. for now, I don't think that this coin will be a dump. in fact, I think the opposite, that the potential to see this coin has a high price is still very large this year.

but it went up

Exactly. I do not see any dump incoming for bnb. The CEO has ticked all the right boxes and how the exchange positively reacted to the hack worth over 40 million dollars has further  endeared it to the crypto community

I also do not see any special events regarding the BNB coin.  But since Binanse today holds a large number of IEOs, and all the statements that the BNB can compete with the ethereum can be quite reasonable.

See their launchpad idea and other critical ideas to hodl the BNB in the platform itself. You people to understand their strategy to increase the funds reserve and other kinds of stuffs.
I believe because of their big reserve we may find the BNB at the 50 USD soon this year end or before that.

BNB supported by the biggest exchange in this industry,
thats why BNB price will recover soon, when the price drop
because for sure binance will always support this coin and never let bnb drop hard mate

Firstly, the total supply of BNB was 189,175,490 and the current circulation was 141,175,490 BNB as stated on capital market so I don't see any reason why they will decrease the supply of the coin or what will make the coin dump so hard. Like you said, some stores are noe accepting it, it has gain the trust of a lot of investors and it now number 7 capital market.