Bitcoin Forum

1. It is centralized

BNB is centralized.

It's minted by a single guy sitting in a cubicle somewhere.

It is nothing at all of what makes cryptocurrencies special.


2. If Binance goes down, so does BNB

This stems from point 1.

If Binance is hacked (?) again like they were a couple weeks ago, BNB goes to shit. All it takes is one issue with Binance and BNB goes kaput.

BNB depends 100% on a central institution which can be the next Bitconnect



3. Exchanges are commodities

There are TENS of large exchanges and hundreds of smaller ones.

You can shapeshift any crypto into any other crypto any time you want.

Being part of an exchange does not make BNB special at all. Getting listed on large exchanges is a matter of making a $$ deposit. Any serious crypto can afford to be listed on top exchanges.


So that's it my friends. Don't believe the hype. Look at fundamentals always.

Most top 10 coins do nothing.

BTC and ETH actually have a purpose. The others are either vaporware or 100% hype.

Ahoy!

1) Yes and many of them are.

2) Yes, but it is not a sure thing, this is the risk you buy with the exchange.

3) You don't make any sense in this so i won't say anything.


I am not a fan of binance or bnb but right now token has lots of real use areas.

I too think that bnb is already bloated in value and it can see good corrections from here but the same time the ceo is very proactive and he has find many ways to keep its community engaged and he has also found purpose and uses of bnb on the platform and at the moment they are high in demand but we should keep in mind that what goes up has to come down as well so we need to be a little bit careful about bnb from here on and not get into fomo.

the point about BNB is : its all about money
so, you don't need to dump this coins now, if you want to make a short term profit
many people still believe if this BNB will grow more, because a lot hype coming to BNB at this moments,,
i do believe if this BNB is a centralized crypto just like XRP mate  ;)

many people who trade on Binance Exchange but I postpone after the Hacking incident on the exchanger, I strongly agree with some of the points that the OP mentioned about the decline of BNB, one of them is because "If Binance goes down, so does BNB"

As of now BNB and Binance are doing well, so there's no point of dumping it. As long as Binance is the top cryptocurrency exchange, BNB is a good source of profit. Also, holding BNB while doing trade in Binance has advantage.

I think dumping is not the key. We don't have to dump because you also dump and waste the opportunity to earn. Just have a good strategies to avoid loss in investing in BNB so your future is on your hand to make stay alive your investment or surrender because you are afraid to take a risk.

Do you think centralization is a bad idea? Decentralization is not possible in our world in my opinion. Decentralized projects only look like they are decentralized.

Even if is centralized, Binance will do better if they secure coins and not let exchange to get hacked and lose the customers because they will get more money over time then to close bussiness.

now come on buddy this post is sick. And if you continue like this, you will be making a whole lots of mistakes in the choices of investment you make. Tell me which coin or token is not centralized apart from the coins we know as privacy coin? Which is also centralized. If any project ceases development of its project, it will definitely affect its assets so you make no sense

Well the reasons you give are very convincing, but the reality is that each time BNB Dump will then rise to a new peak

what you say will not make me believe that BNB price will go down and in my opinion BNB price will actually continue to increase, especially when the Binance DEX and Binance Chain projects are widely known and used by many people, so I am sure BNB price will increase higher and of course it will make people who don't believe to invest in BNB will regret it, because they will lose the opportunity to get a big profit and of course their chance to get rich will also be lost.

The only reason I will consider your opinion is if u have evidence of having a least 10000 BNB in your wallet now and you are ready to sell considering your sch of thought. This is what we call FUD, most especially when it comes out envy of project's success. Did u forget that the same exchange was just hacked and rather getting better, so why FUD. No body thought bitcoin and ethereum will get this long.

You are actually making some good points. BNB is the very symbol of the success of as well as the trust and confidence of many people for Binance. Where Binance goes, BNB follows. The thing is that people are buying BNB because they are speculating that it will rise in value just like the resiliency that Binance showed when it was hacked weeks ago. When people will sense that BNB has no more a bright future ahead that can be the time when they will dump, dump and dump but until then they wanted to be a part of something that is profitable and exciting...which is what BNB is as of the moment.

Well, BNB Roi says the other way around, it's already more than 9000% according to coinmarketcap.
Just because is centralized doesn't mean its bad, anyway this only my own opinion.

https://i.imgflip.com/32c222.jpg
 (https://imgflip.com/i/32c222)via Imgflip Meme Generator (https://imgflip.com/memegenerator)

These applies to many other coins. Where there's no risk, there is no gain. Binance is in strong position and growing so would BNB.
If any circumstances lead to closure of Binance, that would be devastating to all of crypto not just BNB.

Binance coin is essentially like buying shares in the company.

If you think Binance will continue to be a popular and profitable exchange, BNB will go up. If it doesn't BNB will likely go down.

if you fud does btt members to dump binance coin, dont even bother since binance had a lot of asians rich people who holds bnb and every people there trust binance so why people should dump?

Now I am watching the migration of Ethereum tokens to the platform of Binance. I think that this factor will greatly raise the price of a coin, up to $ 50 at least.

You say look at the fundamentals and I would say the fundamentals of BNB are very solid.
Also, a lot of what you say just doesn't make any sense with lots of contradictions.

BNB is not hype, vaporware, or a useless shitcoin.
It is a coin with it's own blockchain that has a very specific use case, is highly liquidable, and has a very large amount of trading pairs.

Binance exchange is not an evil centralized corporation.
It is an exchange that raised the standards for how exchanges should be run.
It innovated the industry through IEOs and DEXs.
They were not the first to do these things, but, like Blizzard (the video game company) they have perfected them.

So yeah, I will be keeping my BNB thank you very much.

Your assumption are absurd. What if every authorities around the world made crypto trading and holding a criminal offense and had a crackdown tomorrow? What if our sun exploded and the earth gets blown away in flames? We all live thinking the worst won't happen. If you are to look for safety, you can live enclosed in your room but still you are going to die anyway.

That is why more people believe in buying and holding BNB for long periods of time. So now what people say to Binance is certainly people will still believe in buying BNB. I am also one of those who prefers to buy BNB and hold them for long periods of time.

actually I am personally interested in collecting BNB Tokens, but because of the Hacking incident that happened on the Binance Exchange platform yesterday, it made me think 2x to collect it. Therefore, I didn't buy this token for security reasons, of course.

Nice try  ;D ;D ;D
In fact, your composition works against you.
It is clear to everyone that you want to bnb be dumped and you could buy cheaper.  :)
Oh god, i haven't laughed like that for a long time.
Did you really thought it would work?

1) Of course, almost exchanges now are decentralized, and the fact that they have the largest trading volume, and we have no better choice.
2) No, BNB has its ecosystem, and it's really working product. That whey BNB's price growing.
3) Likely the first reason.

All this reasons you listed are not worthy of dumping bnb,  perhaps bnb might be centralized but if you had bought when bnb was $5 I believe you won't come up with this topic,  your are among those who missed the chance of buying the dip and I'm not surprised

 Binance Coin is a very good coin and for what reason you need to look for a dump for BNB is unclear.  Binance Exchange quickly became world famous and they have future and prospects.  The fact that it was a hack does not mean that everything is bad, but gives developers to work out errors and improve the security issue.

I dont see any reason to dump BNB at this moment. It is one of the best exchange with its own blockchain. I dont care if it is centralized or anything else at this moment.

Provided Binance exchange exists, BNB is here for the long run. The price might be hyped but that doesn't mean the exchange isn't among the top best coupled with the fact that the CEO is actively working on means to stay ahead of other exchange.

They have a pump. And your dovad nothing means. I do not think that this coin will fall as the market grows. 100% will grow. You will still see this coin in 3 positions. In general, everyone knows about this coin.

But until now there is still no bad sign for Binance coins (BNB) right? I read the three reasons you wrote, maybe the reason no.1 is centered indeed yes but I am not easy to just believe. It's likely that BNB will continue to grow well, along with the current cryptocurrency market movement. I am optimistic that BNB will continue to experience good growth.

I don't understand number one very well. Do you mean Binance has no fixed supply and developer can print coins whenever they want? If yes, where can I get the information on this?

The reasons that OP presented is I think not applicable for the moment to dump BNB. They are still doing great and being one of the top exchanges, they have long journey in this crypto industry. Your money, your investments, so no one can dictate how you gonna spend your riches. 

Maybe, someone can create a thread - Top 3 Reasons to BUY Binance Coin  :P

At this moment, the market still buying this project and if you have the guts taking the risk it still gives you a high rewards, keep your eyes opened as market can bring something huge or also OP's assessment might happen, but it will be revealed alone when things already been there.

I have no reason of dumping binance coin (bnb) to me this is still the coin that is stable that has more pump from when i bought till now. The target is not yet now. Cos binance coin is a long term investment.

I think many peoples will holding BNB coin because it has a huge demands of it.
The coin demands comes from participating IEO, trading competition, trading fee reduction, etc.
Traders and investors won't care if BNB coin is centralized or decentralized as long as they get profit by BNB coin.

I think that the BNB is very overbought. The price is now very high. I think it would be fair if the BNB fell to $ 20. But I do not rule out that they want to make the price of this coin several times higher.

for now there is no reason to dump binance coin..price is pretty good and the exchange as well.. its not easy to dump this coin as the the exchange is doing well and so many users.. now they migrating their erc20 token to their platform is a big plus