Bitcoin Forum

So I wrote this on Medium.com, if you want to read it on Medium you can find it here: https://medium.com/@creampuff/how-binance-is-becoming-too-powerful-4550f6155f5d
 (https://medium.com/@creampuff/how-binance-is-becoming-too-powerful-4550f6155f5d)
Here is the article:

Before beginning, let’s introduce you to Binance. Binance is a company which ran an ICO in 2017 and launched its cryptocurrency exchange during the same year. They quickly became very popular, and a few months after its launch, the exchange was already the largest one in terms of daily volume. Binance, and even more their CEO, Changpeng Zhao (CZ), is constantly incentivizing companies to use Binance Coin (BNB) as a payment method.

Besides, they recently relaunched Binance Launchpad, a way for users to directly participate in ICO’s on Binance. A few days after that relaunch, most of the major exchanges had already announced their versions of Launchpad, showing the impact of Binance in the cryptocurrency world. And even more recently, Binance Chain, was launched. Binance Chain will not only power Binance DEX, Binance decentralized exchange, but will also power tokens.

That’s scary.

Why?

Because if we take the tokens powered by Binance Chain for example, they will become incredibly dependent of Binance. And actually, it’s already the case without even taking in consideration Binance Chain. If we take a look at a low-cap coin listed on Binance, SONM for example, if they were delisted of Binance, their project would be considered as dead, because it wouldn’t have any volume anymore.

Quick side note: I’m not blaming Binance here, with this article, I’m blaming the other exchanges who aren’t capable of competing with Binance and Ethereum not being capable of competing in terms of scalability with Binance Chain. I actually like Binance, I really do. They have a great exchange, they know what they are doing, and they are certainly the most professional exchange I know. So I don’t have any problem in regards with the product itself, the only thing I’m saying is that they are becoming too powerful.

So the main problem behind Binance Chain is that it gives too much power to Binance because with their blockchain, Binance will be able to put even more pressure on cryptocurrency projects.

Imagine you have a company which has created a dApp and a token based on Binance Chain. You raised funds through Binance Launchpad, and were listed on Binance Exchange. Because you are fully based on Binance, you start accepting BNB, logical right?

Congratulations! You are now officially fully dependent of Binance. :)

Your dApp activity depends of Binance, most of your clients use BNB instead of your token because it’s much easier, the trading volume of your token fully depends of Binance and 95% of the people who are hodling your token are Binance users because, remember: you ran your ICO on Binance! Because of that, the majority of your token supply is located in Binance wallets.

The result is that your company’s success entirely depends of Binance, not you.

As a conclusion, I think it’s fair to say that Binance is becoming too powerful.

Binance has always been supported by the community during the past time and they have many strategies to make their investors unable to leave this exchange. I think thanks to the obvious development of CZ, Binance is being considered a leading exchange and there are no competitors that can compete with Binance. In my opinion, CZ has helped many people earn big profits as the main reason why people have great faith and they will always believe until this market collapses.

It is far from too powerful, sure it is doing really well but its by no means becoming too powerful. Some of the changes (like trying to move towards decentralization of sorts and a few more things) are the things that the community has been hoping for ages. Binance is just the first big player to really do them, thats also why they are getting this much traction

Binance has proven to its community that it cares a lot about its members and that it might do the impossible to make peoples happy about it.. It's becoming too scary as you mentioned but in a good way. It's gathering alot of investors and its trying to fly to the moon even without a bull run. That's incredible and scary tbh.

Their main goal is money, don't be fooled.  I have moved over to smaller exchanges that actually care about their customers.  I don't really trust this CZ guy and his crazy twitter posts, he seems mentally unstable.

Binance had a lot of achievements in 2019, typically launching DEX and successfully organizing the IEO. they still have many other plans, it can be said that Binance has done very well in developing the platform and supporting users. CZ is one of those who have a great influence in the field of crypto, with the lead of CZ, I think Binance will grow strongly in the future.

I agree that this is very bad for decentralization. But it is we who allow ourselves to grow a this monster. But at the same time, it is a good way for a project to attract investment.. The success of Binance is incredible. In one year, they created a powerful structure.

And no wonder why a lots of people around this industry trusted binance because of that achievements, but yet they are not done yet, introducing more progress will simply brings more investors to support them, scary in the sense of we might be left behind without knowing how things materialize with this project, we need to be always prepared and willing to take chances.

Indeed Binance has become the most powerful exchange. It even should be because there is hardly any exchange that matches it's reputation, customer support, developments, listings, volume etc..
Binance keeps itself balanced between all of these thus providing a user friendly experience and a trusted platform for crypto enthusiasts. If other exchanges don't keep up with it, it's gonna be easy for Binance to dominate the market. BNB is also a potential investment right now since Binance has created a lot of dependency on it. It has already reached it's ATH now and is just a few cents away from crossing it's ATH.
I remember buying BNB at $16 and you can see the price now  :P  ;D

I don't think this is a matter of a scare! You don't have to migrate in Binance chain, you can willingly choose Ethereum, NEO or WAVES chain! But the fact is Binance is the most profitable chain for any coin. And it is being more popular than Ethereum day by day. Binance has the strongest community. They did not stick in their roadmap, they are doing something beyond of roadmap and papers. If you don't want to depend on Binance then you don't need to go through their chain or Launchpad! To me, Binance is a big asset in the crypto industry!

The great promise of the blockchain has been decentralisation and the democratisation of finance. Unfortunately we live in a World where Governments and Regulators are terrified of people being able to operate outside their control. They like markets made up of large monolithic players that they can use to force their will on the market. It is going to be interesting watching when one of the monoliths fail, because I don't see the Governments coming to the rescue of investors that have lost everything. I do my trading on Dex's because if you don't own the private key you don't own the coins.

Binance become most powerful exchange because they are very innovative and know what people want. This can be for so long as long as binance know how to treat users. But, I dont think think this will last forever. In the next few years, there must be more innovative exchanges that will surpass binance. Isn't it how the crypto exchange work?

Well this is something developers needs to worry about not investors, developers  who aren't ready for binance shouldn't get there tokens listed on there because once binance decide to unlist the token it's the end and since crypto world is unpredictable binance might not last long, we are seeing new exchanges already,one might take over someday

What have been working for binance is their team work and their commitment to the project, I admire them so much because I love the way they are so organized and will love to follow their pattern in making my business grow. I have been a freelancer for quite a while now and I am already planning on working on my own project because I see that there is nothing as good as owning your project, and am learning from binance pattern in order to build my own project and I hope that it goes well.

A very good team will build something good and Binance where their journey is not easy with various regulations and agreements from the country and whatever it is, Binance is a reliable and reliable platform as a safe and quality platform, but hopefully they don't too confident with market conditions or including cryptocurrency because there are so many groups who want to overthrow it, very serious about it because of the risks they bear a lot and must be held accountable and there are now a lot of news that Binance's hype is in very dangerous conditions US side, I only pay attention to it.

I don't agree with you.
New companies and icos are not dependent on binance, they are dependent on their own business skills and success.
To me, your argument sounds like this:

A kid fails a class.
Instead of saying the kid is responsible for failing you say it is the school or teacher's fault.

that is just ridiculous.
If there was evidence that the school or teacher did many things to make sure the kid was gonna fail, then yeah, it could be the school or teacher's fault.
In binance's case, there is no evidence that shows they are trying to make coins they launch fail.

If a company does not have a growth mentality and expand beyond the platform they originally used, then I would say its not a problem that binance is too powerful.
The problem is the company itself is disfunctional.

Binance's management team are really awesome than any exchanges available currently so we need to appreciate them for the efforts on handling the projects and doing scam buster working by ignoring them.
As volume and circulation of the exchanges increases gradually as well as their community were moving faster and faster.
These all made the market boom for the Binance and now they are staying at the 1st place in crypto exchanges list.

Binance's rapid development sometimes scares me, but we should not worry about it too much. Under free market conditions, it will surely be a competitor. As these competitors grow, market equilibrium will come.

Binance is seen as a shinning example of what a exchange should be, an ecosystem that interfaces directly with the community.
   They have a top notch platform that offers a directory of resourceful guides, charts and tools! I like the fact that they provide very detail oriented and accurate information.

Well I don't completely share your sentiments.. For one I also don't think binance blockchain will support dapps.. Although am quite weary of the monopolistic nature the binance team has taken lately, I don't think too many projects will patronize the binance blockchain just yet.. The fear of the unknown will make most stick to ethereum and the absence of dapps and smart contracts functions further restricts the scope of the binance chain..

I agree with your submission. Changpeng Zhao is doing his best to monopolise the market. From Exchange markets to blockchain development and he's doing them all right. Its little time before he becomes the biggest figure in cryptocurrency

Well i agree with what you say, but no totally, this happen because people use exchange and if most people already use Binance exchange that means they are too powerful? If people will not like what happen they can choose to not use anymore exchange and this will make they change their strategy but if people like then this is it.

yes maybe on one side the bnb scared me. this coin can affect the price of other coins. I think Bnb is very strong today, and it's actually not good for the long term. maybe in the future the bnb will manipulate the market, because he is very strong it might just happen.

Even if we admit that Binance is doing many great and innovative things it could be dangerous if one exchange becomes so strong and have such a big impact on the market. Crypto is designed to be decentralized and the opposite is happening lately.

It is indisputable that Binance is going through a very successful stage, and without a doubt they deserved it by making this exchange the best and safest of all, so instead of criticizing that apparent concentration of power, other competitors should make serious efforts to reach the high standards of Binance, because all the features that have made them deserve the confidence of investors are the result of a large investment and a strong motivation to innovate. No one prevents others from doing the same, and I would hope that in the near future we can find a more competitive and really advantageous exchange market for investors.

Binance showed how to develop the  exchange in order to make it number one. There are a lot of exchanges in the world of cryptocurrency and none of them have such popularity as Binance.

Binance is continuing to make some innovations to make their company big in the world of cryptocurrency and this must be followed by other exchanges to compete with Binance if they don't want to be left out. BNB investors are very happy right now as their holdings shoot up in terms of value, this is what they reap for trusting the Binance team and the project overall. They are now enjoying the profit which i think the main reason why we are here.

that's right, i am also worried that the BNB is not good enough to be a long-term investment.

i also saw some coins that like this happened several times in the past, pumping high even though bitcoin and other altcoins were in bad condition. but the age of the coin is not too long, in the end they fall and again move to follow bitcoin like other altcoins. but we don't know how the future is, maybe the BNB will be different from the fate of other coins.

These days more discussions were going on relating to BNB. There are some suggesting it to be the best investment for the year while there are people who mention the same as the scary asset for long term holding. From my understanding the market of Binance is quite strong and it'll continue to show growth with fluctuations relative to the bitcoin market serving as a good asset for trading.

binance has a large community that continues to grow. I'm sure binance will be the best exchange.
even some exchange now refer to binance. just look at some exchangers starting to make IEO and imitate binance.

every success in this space is good for the space.. it cant become a monopoly
there are many other options and they all will follow with options for customers

Binance is not that powerful but it's just only the start, tbh i'm fine with that. If binance can become big and can make cryptocurrency become better then i'm okay with that. There are pros and cons but Binance still not that powerful for now, maybe it will happen in the future though, to become too powerful.

Almost all of people are using it and they got a lot of money. Dude, remember this money is the main resource for any company to expand its service and create a big monopoly to the various sectors. I guess that's what make him feel scary with it dude.

I wonder what makes us fearful about the development of Binance on the market? What if we see its improvement on a positive way, rather than to speculate some misleading information that can cause market fluctuation in a negative way, I am supporting Binance since then, and I am very proud of it right now.

Rather than being fearful of Binance, we can simply just encourage others into doing better too; Binance has been very hardworking since the time they were created which we all could see through their moves, they must have had sleepless nights in making sure they get their projects working in such a short time.

I don’t think Binance has ever engaged themselves in activities that will affect us negatively in this crypto space, all they have ever done is to create a conducive environment that will make us have a smooth transaction in this crypto space, so what Binance really need right now is us to keep encouraging them in their hard work, and I don’t mind even of it becomes a monopolized exchange.

this has been a common thing among the centralized exchanges. from time to time one of them gains a gigantic power in the altcoin market and then they always abuse it to their own advantage. i remember Poloniex was a big one a long time ago and they always decided which coins to get pumped and when to dump that coin back again.
there is nothing we can do about it, but to migrate to decentralized exchanges.

This is why decentralized exchanges are the best. Unfortunately, binance is aware of this influence they have and that is why they are creating their own decentralized exchange as a fail safe

They are just improving and proving theirselves that they are truly top tier when it comes in cryptocurrency exchanges,they are just a succesful team who is helping the community using their services

But personally it scares me that colossal power which begins to concentrate in the hands of the owners of the exchange Binance. This is a threat to the decentralization of cryptocurrencies.

The Binance CEO and the entire team are very innovative and I think that is affecting the coin price. Binance is the most valued exchange coin and the first in this kind of venture. The coin is widely listed across other exchanges more than any other exchange coin and so many innovative ideas that breeds a lot of confidence. I have since joined the fomo gang

yes you're right, binance is too strong. they have more power in the market. if they do something, attention will go straight to it.

if seen from your explanation, indeed this is very scary.

Binance growing more bigger because customers or members trust. Every company can growing bigger as long they can provide what customer want. Every crypto investor want security and good project and i think binance provide it to their customers.

It's all up to you. Whether you want to make binance rich or not, we are just the people who want to make profits.

what i suprised here is about their token
did u know,most of altcoin also BTC have a ATH on 2017-2018
but how about BNB ?
the token grow very significant, with ATH about a few days ago.
i just have some speculation,BNB have a real thing.
not bound by market fluctuations, its a pure from their comunity self.
can u imagine how people believe their exchange ?

That's actually true, and I'm not blaming them. I'm just saying they are being too powerful, that's all. It's the fault of the other exchanges that aren't capable of competing with Binance. You could also blame Ethereum for not being enough scalable because, because of that, a lot of projects are going to migrate from the Ethereum chain to Binance Chain. So I'm definitely not blaming them.

actually there is no need to knock when a coin is delisted from a binance exchange, if the coin has a solid and big community it is not a problem, the exchanger is not only binance, although the volume of transactions will drop dramatically.

A few days ago bnb had a very good value against btc and this was the new ATH. But it is not good that increase is based on exchange. In the first news that will shake people's trust about binance, the price will reach new "ATL".

Do not rush so much to rejoice and support Binance. Let the situation evolve. It seems to me that this is all temporary. As soon as the IEO on this exchange ceases to attract investors, due to a drop in yield, the price of the BNB will go down.

Binance coin is the most decentralized altcoin what I have ever seen. CZ maybe isnt a bad person, but we do not want such powerful man in crypto, right? We want to have decentralized cryptocurrencies where every voice is important  ;).

now is the binance era. binance is not only the best exchange. but coin binance also continues to increase every time. Binance Dex is an innovation that will provide great benefits for each user. I thought. Binance will be better in the future.

It is strong but it is also weak. Every company has a weakness because it has to be registered somewhere and abide the law. They have to do their taxes somewhere and if the government of that country decides that there's too much smoke around Binance they can seize their properties and kick them out.

Bitcoin is independent and Binance has all the weak points that bitcoin was made not to have like a CEO, employees and an office.

There is no sense in your post, why you're not giving one important thing of their bigger and bigger power in cryptocurrency market - high influence in some dPOS currencies - last time NANO team reminded to not hold too much funds on Binance.

Binance become more powerful and more popular this year and next coming years, because they have more partners and a lot of millions investors which is good for the value of the binance.  And we know the binance exchange is popular and have a lot of trader so every binance exchange project create or release it will turn to successful and poweful and also a popular to the crypto user.

Binance is getting too powerful because the team really know what they want. The team is focused and ready for work thus supported by the community; and it is true many users in this space loves Binance exchange owing to the way it's services are offered etc. In my own understanding, it is not a threat whatsoever as the team is constantly looking for ways to bring better services to the crypto space.

This Exchange has proven its services to the crypto community and has made lots of accomplishments and charity's also, this exchange is serious in business :D

If you're concerned about Binance becoming too powerful, take your business elsewhere. There are over 200 exchanges (according to CMC) and I'm sure a number of them would love it if people did more trading with them.

Binance is getting too big, but that's because we are letting it happen. Support their competitors with trading volume and create a more competitive marketplace.

Well, nothing is wrong with been powerful, in fact one of my Sunday preacher told us that the only thing one need aside of wisdom is power. What has kept Binance this far and dominance as an exchange is innovation and professionalism. While some exchanges insisted on full KYC before one can even pull out his $1, Binance had to say "KYC was needed for large volume withdrawal". Binance as an exchange has helped a lot of project to succeed and traders making fortunes. Their contribution to this community is visible and worthy of praise. I will continue to use Binance exchange, I love them.

They can change their KYC policy at any time if they want,if Binance becomes the monopoly of crypto exchange then it is a great threat for the prices because they can manipulate the prices as they want but I don't think traders will let that much of trading volume for one exchange since lot of new exchanges were popping up and we are not too far from the decentralized crypto exchanges era.

Well, they really have a major impact on the market. Many believe that they will become monopolists. While in the hands of such a pump, they have the right to dictate terms.

Well, as you can see, that is the reward they get for being too hardworking, other exchanges and projects really lacks strategies to push their projects forward and that is why it will be very difficult for any of them to really compete with Binance.

And you are right, most project success will soon be dependent on Binance if care is not taken to break the monopoly I am already seeing, and all it needs to break this monopoly is for other project or exchanges to just be up and running, they need to come up with strategies that will make their own platform a competitive one too.

Binance were able to raise a sensation around. But this does not prove that they are a strong project. It scares me that Binance can monopolize the entire industry and then cheat everyone. So it was with many exchanges that are trusted. Now there are huge turnover of funds at Binance. What if all these transactions are artificial? No one will tell you about it but you will invest in BNB and hope to get a good profit.

Binance right now moving crypto industry, at this moment it is appears as main power of crypto hypetrain. About you fears, all i can say is that CZ says that they dont compete another blockchain, Binance chain do not have even smart contracts, Binance trying to compete another exchanges, not blockchains.

In 2017 Binance tokens was available below 2 USD. And now it's around 30 USD. Very rare cases in the crypto world. I am seeing many others trying to setup exchange but they are nowhere close to Binance.

Few hacking attempt was there,  but Binance managed to tackle those.

While we look at the negatives, we should also look at the positives.. recently Binance was hacked and after the necessary maintainance, all the hacked funds were replaced to user wallets, this consolidated the fact that Binance is a leader in this space and gave it even more power, you are correct though, Binance has become too powerful especially in a space where decentralisation is supposed to be the order of the day.

Even after this event, there was compensation, a discount on trade and a razgrash of 50,000 BNB. I think this is the best exchange at the moment.

What do you mean it's very rare in the crypto world to go from $2 to $30? Have you not been in the crypto space for more than a week?

This is because they are risk takers. They dare to take risk where others are scared. Binance change crypto entirely when ICO was not productive they brought IEO now many other exchange are adopting it. They have right to influence the market

It's not so scary, they gave better service and trading website. So that's why they are on the 1st place right now. But believe me, soon it will end. Will be other platforms for trading.

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

Yes, because they have very large funds, and they are serious about giving extraordinary access to Investors, so many Investors feel comfortable trading there. Because Investors need a market that is comfortable and good in providing its services.

I agree with your reaction. Don't get me wrong OP. But as of now, binance is the largest and most trusted cryptocurrency exchange. In fact, the harmony that made their IEO have already 900% above their ICO price. In terms of liquidity and security, binance is protecting their investors as well as traders. I am comfortable in using binance since I am also a play safe trader.

I am agree with you. Binance offering best service to their member and right now become a biggest exchangers in crypto world. I dont think binance becoming scary because when market growing more bigger and volume increase, its good for bitcoin or altcoin price

the market growth will indeed be in line with the growth in the price of coins on the market. when trade increases and many investments come in, I think the market will experience an increase and demand for assets will increase. it makes the price of coins will also increase.

What I mean was in last one and half year hardly any project or coins gave such multifold returns. I know ETH,  BTC,  LTC and many other coins m but for me Binance was huge.. Almost 15 times.

It is surprising that someone would not see or appreciate the hard work Binance is putting to make their platform very suitable and comfortable for their users. Binance is not powerful because they have any autonomous power, or given the license to run exchange alone, Binance is only powerful because other exchanges have failed to successfully compete with them or meet of to the standard of their users.

The owner of Binance is just an intelligent man who is a deep thinker and problem solver, from his works we could see that he is not after the money alone, but after the reputation and standard of his company.

As far as I know Binance is becoming too powerfull because of IEO method.
Then , the developers is looks like approve criticism and suggestion from their community.

I also think that after a while people will no longer use Binance services as they used to use Poloniex, and in the future, Binance exchange will not be interesting.

Any investment in Binance exchange since the beginning of 2019 earned a big profit and I couldn't find the reason to fear this exchange. The reality is that CZ is very good at keep community because most of the participants are very loyal about the policies proposed by CZ and the IEO has made Binance very strong. Every day I go to this exchange to see the prices of my favorite altcoin and always choose  best coin for medium term investment.

Binance is ahead of the game, ICOs became unprofitable and untrustworthy CZ developed a new strategy to help startups raise funds for their projects. The confidence on Binance is huge that's the reason it's been gaining the momentum it has now. ICOs, IEOs, people have always been profitable on Binance.

I do not see there is anything to be scared about, crypto has been there before Binance and without Binance it would still survive, however, I would like to commend the business acumen and strategy of the Binance CEO, he is very intelligent and has contributed immensely to the crypto space, his idea of establishing a launchpad and introduction of IEO's is a notable achievement and a good way to deny ICO scammers of their meal ticket. I really hope other developers are learning and trying their best. The CEO is the one that walk the talk unlike some influencers that have actually lost their voices like McAfee

Yes, its happening now. I foresee that Binance will now rival eth in terms of tokenization. See how many good and big projects jumping ship already? In terms of, IEO Binance is the number 1 candidate producing potential projects and I can see that all theyve listed so far has a good platform such as Harmony which my favorite of all.

Other exchange follow them and some project join them. Like the old saying, if you cant beat them join them. Binance coin holder here.

Indeed, binance exchanges are very good at managing and attracting investors, while other exchanges are gradually degrading, binance maintains its capacity and quality over time, and don't stop there, they always start a trend to bring profits to investors, most recently perhaps the IEO projects, all projects make investors very satisfied. And we should understand that these things happen in a period when the market is very gloomy, lacking too much hope and boom, binance has created too big a light source for the community, its reputation goes up then its development

Binance dare to take a risk and use it as a good opportunity to gain more from the market and do better for investors. I think it will be a good market if there is competition like this. So each coins has to do more improvement day by day.

I already traded a lot of times in Binance and so far I didn't have any problems other than this. That is why Binance is not the only exchange site that I am trying to use. It's because of us why Binance is becoming too powerful and really scary at the same time and we can't blame binance for satisfying a lot of people.

So what’s wrong here if the exchange is constantly trying to do something for its customers, on the contrary, I think that Binance is one of the most promising projects lately and their token has very big development prospects.

So far, Binance can be considered as the biggest and most trusted exchange, however, I think we cannot consider it as too powerful. Actually, some other exchanges also have a big chance to grow and exist with their very good feature and concepts. However, it is real that token holders, investors, and also traders really involve in Binance so highly. Binance is also always offering their best progress (although it was hacked several weeks ago), but it keeps changing better. It may be still the first exchange and be the first for some years later.

I don't think it's becoming 'scary' but rather making all the right moves towards the leading example of how an exchange should be. They have a great team of people behind them and it's no surprise that BNB is growing everyday.

Projectings moving to Binance chain are taking a large gamble. We have seen in the past where Binance tried to act judge and executioner like in the case of BCH ASV. They might wake up and decide to delist a coin on the exchange and I wonder what will be the fate of such coin.

Binance growing become biggest exchangers because they offering safety on members fund. They are very transparant during hacking and investor give trust. I think every exchangers should be like binance, doing transparancy and offers only good project

It's not about power that everyone should be scared. It's about how binance is doing good in terms of keeping its exchange secured and at the same time traders friendly. Now, for the BNB getting great attention from investors, it is directly connected with the frowing users of binance exchange also with other traders.

With how the business works, they really know how the business will extend and will accomplished competing with many other exchange here.

Binance keeps on adding new attracting addition to their site and makes new investors to use the platform and continue moving forward.

The good thing about all of it is even the binance realises the risk. So they have created a decentralized rival exchange of their own. Though we may argue the benfits are still going to the team, the concern here is security of the funds and intrest of the traders which would be well diversified by the two cex and dex of binance.

They are good at what they are doing, traders look at them more of an authority too.
There is a good side to it though like CZ initiated the delisting of BSV sort of an authority in crypto but yes there are more bad to this. But with the BNB network being developed, I guess they'd' be more powerful in the coming years. There ain't no other choice though, unless the crypto users being to look to a developing exchange more secure with volume than Binance.

It's a centralised business anyway, you do make earnings like investing in Google and it's really dominating many services, decentralisation mindset is not too solid these days when investors are looking at prices not for the benefits of blockchains itself, I think the downside is the overconfidence that BNB holders might have in the futures as we know everything Binance does reflect positive reaction on listings, products launching etc. Many exchanges would do the same thing if they have the same reputations

I do consider BNB is better than most coins.
At least Binance is showing a profit every quarter and to my knowledge, it's the only company which actually shows us some result.

The constant growth is the healthiest thing a company can have. Binance has all chances to be a titan many years from now.

When cryptocurrency full recover, i think binance transaction volume growing more bigger than now. Many investor using binance because binance guarantee investor funds and recently launching DEX on their own chain. Its good exchangers and have good reputation so far

It is completely wrong to be dependant on binance as we should be pushing for decentralisation. Hopefully it will not overtake ethereum which i suspect it won't

Binance has been gaining popularity very much lately and a lot of big investors with big players want to trade specifically at Binance. Also, with the help of Binance dex and their IEO that they provide to other companies, they quickly gained even more popularity.

Binance is just going to the top perhaps only due to quality team of developers who are active and delivering the features quickly that are required and demanded by the investors and traders so at the moment there is no stopping for binance but i hope soon some other projects will also raise their standards to compete with binance.

Binance has become a very powerful exchange and the leading one for that matter. Even though it is very powerful, it has its users at heart. Imagine when this exchange was hacked, it used its reserve funds to pay for the users funds which I think is applaudable.

The way binance is rapidly grabbing on to power in cryptocurrency may be scary but at least they are doing it in a way that benefits their investors and users. Slowly, BNB might overtake Ethereum to be the 2nd most influential crypto coin after BTC simply because the developer is constantly effecting changes and dynamic updates

That is 100% correct. Binance is a risk taker like the CEO CZ. The more you take the risk, the more you improve and the more you attract people to use your exchange. You might have known about Harmony and the Binance Stable coins. There are very latest adventures after the hack of the exchange and this is something that influences a person like me to be part of Binance.

Binance knows it limit and shouldn't be use to compare with Bitcoin or Ethereum. We know them to the best exchnage around the world of cryptocurrency but that will not grant them or make them to be threat to any coin from 1-5 on the coinmarketcap, so, nothing to be afraid of. Although Binanace coin is my favorite but will not over-throne Ethereum.

As the exchange is constantly evolving, updated, every month the exchange holds a new IEO. I believe that these factors are fundamental and affect the success of the project.

And just the next IEO will be able to push the price of Binance Coin above $ 40. I think that the coin is very promising for growth.

I feel like binance bringing too much centralization to the crypto world but also i believe they are causing their own bubble with ieo's and bnb.

I wonder how this will end. I don't think in future binance will control everything so there will be a burst at some point.

1. if you are trading at binancce then BNB is really a worth to have.
If not then you should have it as investment.
now we are here i think BNB is a goo thing to have...

Yes, Binance does have a lot of community support. This exchange has advantages over other exchanges. That is why many traders choose Binance.

I really don't see anything scary about binance dominating the exchange market and becoming one of the top, it just means a wake up call for other exchanges, before it was Bittrex, polonix, kraken but some how the manage to loss their glory and fall behind,
Binance on the other hand has been focus on service delivery and going the xtra miles to make that happen, now lunched its on chain the sky is the limit for binance no doubt.

If you say, binance is becoming too powerful, yes I agree with you. However, it is not a power takeover or a power by force. Whatever they have become today is because they work day and night to attain that. They keep improving and innovating themselves for the betterment of the crypto space. They are not slowing down and they keep evolving at every point. This should be a wake up call to other exchange platforms to up their games and put up a healthy competition with binance and stop following them like a dog and its keeper.

Let's not forget that the two project have their own utility and functions differently. For exchange Binance is your friend for Dapps deployment Eth is your friend. One can't perform the function of the other that makes them distinct in their own ways.

Honestly, I am not afraid of binance getting too big because I trust binance, would you rather have 10 places that you are not sure about or 1 place you are definitely sure about.

If binance wasn't this powerful and we spread the volumes over to 10 exchanges next than we may had 2-3 bad "hacks" like binance recently had that would have affected the market horribly whereas right now we have binance which can continue to operate even after getting 7000 bitcoins hacked.

many traders choose Binance because they have a very high level of trust and traders are not afraid to lose their money

There is no point in fearing binance exchange and its coin BNB as in the free market, any product can be supported by the community and it can get popularity so much. But that support and popularity will remain as long as it continues winning hearts of the people. Binance has been doing well in the market so far and it deserves supports from the people.

I think Binance is not really scary and yes,I see Binance has strength and now we can see Binance can recover quickly after being hacked, even though at that time the BNB price had dropped to $19 but now the BNB really shows that they can recover from that problem

I don't think this is scary, rather this is the opportunity! Even if the Binance overcomes Ethereum I would not be surprised! Binance has strong community support, they keep promises, they keep developing the platform to give profit to its supporters and every attempt from Binance is being successful! Because other big coins are the Binance supporter too! So, we should celebrate it and I hope within two years BNB price will be 250-500 USD!

Binance rose to fame like really fast, but anyway, I don't think that makes it the strongest or the biggest exchange there is. Binance is big, I know that, but there is Coinbase to compete with it as well. Coinbase is another big exchange and is even bigger than Binance. But their only problem and what makes binance to seem like they are getting better is because coinbase do kyc and lots of people who trade or makes use of cryptocurrency don't like to do kyc. So binance is beating them with that and another thing is that coinbase does not allow trade from every location, there are some countries that are restricted from reading with coinbase, whereas in binance anyone is free to trade. If they can take out all these rules, then they will be beat binance hands down.