Binance: $BNB The Future of Exchanges.

[Bonanzacoin]

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

i totally agree with this. WHAT DOES BUY BACK MEAN? !!!!

[xinzark]

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

i totally agree with this. WHAT DOES BUY BACK MEAN? !!!!

I will not let binance to take this money so easily. I will be posting an article about this on steemit in some hours

[Bonanzacoin]

Apparently the burn allready happened.... oooh and what effect does it has on the price? ITS GOING DOWN!

what a joke.

https://etherscan.io/token/0xB8c77482e45F1F44dE1745F52C74426C631bDD52

[Tyr808]

Honoring the committment on their whitepaper, binance just burnt 1.5MM$ of BNB tokens.. thumbs up for this nice exchange, looking forward to hear news about their coming DEX.
https://support.binance.com/hc/en-us/articles/115002205552-Binance-1st-Quarter-BNB-Burn-Event

[kabzeon]

I noticed hat the price has had no correlation to the burn, the total market cap was reduced but its a crazy market right now, until China's situation settles in terms of media attention regulations and the bitcoin fork is completed, traders are all over the place. (there could have been some buying up to the burn, since price did go up and now some quick selling.  Even if no one buys BNB, it will still have value from the constant buyback buy pressure. I am holding my stack of BNB until more seasoned investors move to this space, then the price of BNB should more accurately reflex their true value, and then buybacks will definitely increase the value. Cheers.






 

[benres]

I missed this coin when it was new but on the exchanges right now hopefully it will do good this coming 2018

[casty3000]

Everthing okey on binance team is working hard but i think they have to be faster on withdraw. They are taking only good tokens and their volume going to better day by day.

[StoicD]

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

From what I have found they are burning coins that either are collected from fees or bough at market rate.  They are not as you say " burning coins which was supposed to be locked"

https://www.reddit.com/r/binance/comments/6w1xcm/binance_bnb_coin_value_analysis/dm6eibp/?utm_content=permalink&utm_medium=front&utm_source=reddit&utm_name=binance
https://www.reddit.com/r/binance/comments/76k9oa/binance_1_million_coin_burn_speculation/

[Bonanzacoin]

I then would like to know how exactly is the price per bnb calculated?? I dont get it, and they should clear this up how exactly this is done.

Edit: so apparently they bought back during the whole quarter. So guess who profited from that? Daytraders....

I was allready saying one time that this coin is being daytraded the shit out of, but i got zero reactions on that. But apparently thats what happened. So we get nothin and scalpers got the profit. Nice one.

So those, like me, who noobly bought at ath's will never see our money back for quite a while.

[asriloni]

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

From what I have found they are burning coins that either are collected from fees or bough at market rate.  They are not as you say " burning coins which was supposed to be locked"

https://www.reddit.com/r/binance/comments/6w1xcm/binance_bnb_coin_value_analysis/dm6eibp/?utm_content=permalink&utm_medium=front&utm_source=reddit&utm_name=binance
https://www.reddit.com/r/binance/comments/76k9oa/binance_1_million_coin_burn_speculation/

Why are so many people not understand about the buyback and burn? The binance just try to use its profit that already generated from the every transaction that has made on the binance exchange site to buy back and burn the token. This was a simple step and them don't even understand about that.

[Bonanzacoin]

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

From what I have found they are burning coins that either are collected from fees or bough at market rate.  They are not as you say " burning coins which was supposed to be locked"

https://www.reddit.com/r/binance/comments/6w1xcm/binance_bnb_coin_value_analysis/dm6eibp/?utm_content=permalink&utm_medium=front&utm_source=reddit&utm_name=binance
https://www.reddit.com/r/binance/comments/76k9oa/binance_1_million_coin_burn_speculation/

Why are so many people not understand about the buyback and burn? The binance just try to use its profit that already generated from the every transaction that has made on the binance exchange site to buy back and burn the token. This was a simple step and them don't even understand about that.

So.... according to ur logic. They bought back tokens they allready received from using bnb for reduced fees? How is that buying back?? In my book thats called receiving. They didnt paid anything for it. WE PAID FOR IT!~These tokens should be burned anyway.

Also, what is the discount in fees anyway if you first have to pay for discount?? This whole thing stinks like dogshit to no extend.

Fact: they did not spend 20% of their profits!

[5ensei]

It is assumed that they would buy the tokens on burn day but it seems they bought them throughout the term or used bnb trade profits. Good that they actually burned these tokens though and proved it too.

[jednostka]

Binance coin, I think that BNB is getting very strong power in its own stock market. The future of BNB is absolutely brilliant. Soon we can hear more of BNB's voice in the direction of my expectations exceeding 5 dollars by the end of the year.

[Mikelude]

$BNB the ONLY coin where you can invest in the exchange. This will be a top coin for chinese/international traders. Eventually it will only be 100M supply.

Binance has given me a serious blow

[CrypticSatu]

They had the burning recently but seems like the price isnt going anywhere. Still suffering from bitcoin moon.

[sihat]

Price peak around 0.0004 BTC 2nd Oct 2017, I think during that time people already cashing out before the burn announcement./ presuming the burn announcement in mid Oct

They had the burning recently but seems like the price isnt going anywhere. Still suffering from bitcoin moon.

[Xoce6patxopxe]

binance braked the listing of new altcoins. Just like bittrex. So soon, the only trades on etherdelta will be

[Mikelude]

I'm feeling good about BNB.

I bought some Binance tokens and also have good feelings about it. Bought it at high price unfortunately

Am not feeling good about Binance

[Bonanzacoin]

i understood that they sell their own received tokens and view that as profit.. which i still dont understand.
So selling them drives the price down instead of up which most of us imagined would happen...

but no...

I think this is misrepresented and i blame them for that.

[MiBambino]

I'm feeling good about BNB.

I bought some Binance tokens and also have good feelings about it. Bought it at high price unfortunately

Am not feeling good about Binance

I'm not quite fond of the currency either, but I've been really satisfied by the platform. I only ever had 1 problem and it got solved within the hour