Binance: $BNB The Future of Exchanges.

[mhossen]

CZ wrote on reddit:
"First, we, the team, has not sold a single BNB coin. You can check this easily on Etherscan. The BNB contract address is: https://etherscan.io/address/0xB8c77482e45F1F44dE1745F52C74426C631bDD52 From there, you can find the contract creator's address: https://etherscan.io/address/0x00c5e04176d95a286fcce0e68c683ca0bfec8454"
A user commented:
"Everyone think how rare it is for a company to finish ico and never have sold a single coin so far. That is pretty rare and shows how much they think the company will grow into!! Proof is there!"
This is one of the most transparent projects run by a promising team. Still, I don't understand why price falling....

CZ's post on reddit
https://www.reddit.com/r/binance/comments/6w1xcm/binance_bnb_coin_value_analysis/dm6eibp/

[Benezim]

from this thread

https://bitcointalk.org/index.php?topic=2148605.20

1. ICOs = illegal fundraising. Bitcoin and Ethereum are not currencies and should not be used as currencies in transactions.
2. No organizations and individuals are allowed to start ICOs, and ongoing ICOs should stop immediately with investments send back to investors.
3. (Important) No cryptocurrency exchanges are allowed to offer currency-to-"cryptocurrency" exchange any longer, a.k.a. e.g. no CNY-to-Bitcoin or Bitcoin-to-CNY exchange allowed.
4. Financial institutes that are not banks must not offer any related services.
5. Investors into ICOs must take full responsibility into their actions (that is to say, if you lose your assets through such "investment", no laws would protect you)
6. blah...


If #3 is correctly translated and true, this will be a huge blow for Binance. Not only the BNB token, but also Binance as a token exchange

[bmike]

from this thread

https://bitcointalk.org/index.php?topic=2148605.20

1. ICOs = illegal fundraising. Bitcoin and Ethereum are not currencies and should not be used as currencies in transactions.
2. No organizations and individuals are allowed to start ICOs, and ongoing ICOs should stop immediately with investments send back to investors.
3. (Important) No cryptocurrency exchanges are allowed to offer currency-to-"cryptocurrency" exchange any longer, a.k.a. e.g. no CNY-to-Bitcoin or Bitcoin-to-CNY exchange allowed.
4. Financial institutes that are not banks must not offer any related services.
5. Investors into ICOs must take full responsibility into their actions (that is to say, if you lose your assets through such "investment", no laws would protect you)
6. blah...


If #3 is correctly translated and true, this will be a huge blow for Binance. Not only the BNB token, but also Binance as a token exchange

Binance does not change currency-to-"cryptocurrency", they only offered exchange  cryptocurrency-to-cryptocurrency . Since this is not considered as a currency - not so bad . I do not think that much will change for Binance, it's just a temporary panic, and a good chance to buy at a lower price

[lissics]

Binance - The past of exchanges

[mhossen]

don't have money left to buy more. Binance doesn't deal with fiat....Seems a temporary dip for BNB which rose several hundred percent in two weeks

[Benezim]

Binance does not change currency-to-"cryptocurrency", they only offered exchange  cryptocurrency-to-cryptocurrency . Since this is not considered as a currency - not so bad . I do not think that much will change for Binance, it's just a temporary panic, and a good chance to buy at a lower price

And still their entire business model was heavily focusing on introducing Chinese coins to the market. The coin offering of the big coins is fairly limited as of now. They probably have to change their focus now if they want to survive.

[Benezim]

Oh, and for the record. They offer USD crypto pairs (BTC and ETH)

 

[Bonanzacoin]

The fact they dont trade in fiat might actually be a chance for them at this point where Chinese cant trade on other exchanges they can still do on Binance. To look at it from a positive pov.  

[Bonanzacoin]

Sell:

126   0.02646000
0.00020999   72,398   15.20285602
0.00020500   44   0.00902000
0.00020001   500   0.10000500
0.00020000   101,030   20.20600000
0.00019999   1,660   0.33198340
0.00019990   508   0.10154920
0.00019285   358   0.06904030
0.00019272   45,303   8.73079416
0.00019250   4,260   0.82005000

[bmike]

Oh, and for the record. They offer USD crypto pairs (BTC and ETH)

 

USD or USDT ? USDT - cryptocurrency too

[Benezim]

Oh, my bad. You got me on that one

[bmike]

Sell:

126   0.02646000
0.00020999   72,398   15.20285602
0.00020500   44   0.00902000
0.00020001   500   0.10000500
0.00020000   101,030   20.20600000
0.00019999   1,660   0.33198340
0.00019990   508   0.10154920
0.00019285   358   0.06904030
0.00019272   45,303   8.73079416
0.00019250   4,260   0.82005000


Look closely!
They cancel their orders, just create a panic to buy even cheaper

[vlad06]

Jesus Christ will Binance bounce back?

[TobyTheCat]

Hopefully soon, but with the news out of China, not today or this week.

[Bonanzacoin]

News from Binance':

China PBoC Update

 Avatar  Binance
a few seconds ago Updated
Hi Everyone,

Regarding the recent announcement from China's PBoC banning all ICOs, we are working around the clock on a solution that will fully satisfy the new regulations in China, while preserving and enhancing features that are valuable to our western community, which accounts for more than 81% of our user base. We will share more details as they become available. Please be patient as we work through this process.

Thank you for your support!

[NaXxow]

funny thing is, chinese market really dominates crypto. I am not complaining though, I just see this red signal as opportunity. ICOs will be regulated, and coins that has been disregarded because of new emerging coins will going to have a comeback.

[yorklab]

If the Chinese exchanges have to take all the Chinese ICOs off, then what's left will do really well after everything settles down. They have to put their money somewhere.

[wasif11]

I don't want to be pessimistic but there is no way to tell if we have reached the bottom yet.
People were saying we hit the bottom when we were $1+.
Pretty sure people put sell orders in at around the $1 mark so when it reached that point, it dropped significantly.
I suggest the best thing to do is to ride the train because we could get a lot lower before it goes higher.

[bmike]

News from Binance':

China PBoC Update

 Avatar  Binance
a few seconds ago Updated
Hi Everyone,

Regarding the recent announcement from China's PBoC banning all ICOs, we are working around the clock on a solution that will fully satisfy the new regulations in China, while preserving and enhancing features that are valuable to our western community, which accounts for more than 81% of our user base. We will share more details as they become available. Please be patient as we work through this process.

Thank you for your support!

Maybe they somehow want to keep ICO for residents of other countries?

[yorklab]

News from Binance':

China PBoC Update

 Avatar  Binance
a few seconds ago Updated
Hi Everyone,

Regarding the recent announcement from China's PBoC banning all ICOs, we are working around the clock on a solution that will fully satisfy the new regulations in China, while preserving and enhancing features that are valuable to our western community, which accounts for more than 81% of our user base. We will share more details as they become available. Please be patient as we work through this process.

Thank you for your support!

Maybe they somehow want to keep ICO for residents of other countries?

Or start listing new coins.