Binance is Becoming a Crypto Monopoly

[repear7]

Wow, I just heard this news. But I did not directly believe it. As far as I know, binance is one of the large exchange platforms but I have not been able to prove the existence of monopoly in this binance. All events are full of possibilities. I hope we can play healthy in crypto currencies. I hope you are also not affected to buy a coin that is considered profitable without you doing your own analysis.

[Menawi12]

Wow, I just heard this news. But I did not directly believe it. As far as I know, binance is one of the large exchange platforms but I have not been able to prove the existence of monopoly in this binance. All events are full of possibilities. I hope we can play healthy in crypto currencies. I hope you are also not affected to buy a coin that is considered profitable without you doing your own analysis.

Its hard to monopoly in cryptocurrency market because every people have their own choice. Its not binance fault if people like and use binance as their exchanger because the team behind binance doing a great job and binance is biggest exchangers in crypto world.

[patz22]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

[Ulven]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

Despite the popularity of the binance,They will face a range of challenges in the future,And is reflected in the emergence of strong competition from new companies in various forms in the provision of services.

[sidoroffalex]

Binance exchange is that place where you can really earn money every day if you have some trading knowledge

[prof7bit]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

Despite the popularity of the binance,They will face a range of challenges in the future,And is reflected in the emergence of strong competition from new companies in various forms in the provision of services.

I am confident in the further growth of this coin and stock exchange, because now they are fighting for liquidity, reducing commission fees. For me, Binance is the best exchange.

[nikola22]

there are many other exchanges and platforms. what prevents them to show such great results as Binance does? the main key to success is the desire to become number 1.

[diazepam666]

Binance creates the great demand on their IEO launchpad. That is actual trick on binance to improve the marketplace strength. I am not sure why their community give this love on binance's listed tokens on their launchpad.
Bitrex, yobit, idax and many exchanges have the IEO but no one got the name or investment like we see on binance exchange.

[Moore234]

Well binance got the strategy from the onset and work on how the crypto market is moving, setting their coin for an high way. Binance has built its reputation any IEO lauching there is sure to get a good Roi.

[poldanmig]

this is very likely to happen when binance is actually growing bigger in the exchange industry and will also expand their business not only to focus on the exchange, it can become a price monopoly

[pixie85]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

There's also a dark side of CZ who is banning whatever cons he like and whoever he agrees with or not. This game of listing for a fee and later delisting is going to make him a lot of money but it won't be clean money. They should enlist what their clients want not what they decide that is worthy. CZ is playing god in the crypto world.

[ashmodeus]

It's quite dangerous for a centralized exchange to monopolize crypto, from owning bandges to bullets; they want everything to come in contact with their ecosystem before crypto's actually see true success. But, Binance's recent movements is having the inverse effect, they are becoming a truly a dangerous threat to crypto entirely, this is in my opinion and sentiments.

Imagine Binance dictating which cryptos see success and which others fail, that's the direction we're headed in, or how they want us to perceive what Binance actually means. They've done a lot of good for crypto as a whole since they were founded, but CZ is trying to expand and monopolize everything, for: power, money and what's probably most important to him, his fame.

I suggest the community start being critical about these power-house exchanges, especially Bianance since they are the largest by a mile (discounting all fake-exchanges). IEOs are a small indicator towards the centralization of power, giving the big guys the authority to dictate which coins you should be investing in. Crypto was not founded by someone telling you which coins you should invest or not invest in, it's always been a cycle of growth and maturing.

There are ultimately many repercussions that will be seen, for what's occurring right now. They will not been seen in the short-term, but will have lasting implications for crypto as a whole.


Binance is beginning to look a lot like MT. Gox, but for a whole new era.


Edit: For more detailed explanation https://bitcointalk.org/index.php?topic=5135400.msg50745817#msg50745817
Edit 2: CZ Believes he can dictate the Bitcoin miners and blockchain, do to Binance's team incompetence. https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

well, i like ur opinion, and its already happened,
first,we see the binance academy with they try to learning about crypto then they create BCF a some foundation with blockchain system as a donation payment
and the last as a the new trend is launchpad,
well, as i think for the first, binance really growing fast, but besides that , we know also the effect of it is really strong.
they already come from all sides of the world.we cant ignored it.
and it cant be stopped. well, i just thinking besides CZ like a good guy but he have huge ambition.
hopely he will not going wrong with all of the power he get.

[patz22]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

Despite the popularity of the binance,They will face a range of challenges in the future,And is reflected in the emergence of strong competition from new companies in various forms in the provision of services.

I am confident in the further growth of this coin and stock exchange, because now they are fighting for liquidity, reducing commission fees. For me, Binance is the best exchange.

As long as there are developments, l believe binance will remain on top but we wl never know if another exchange will pop up and suddenly will be a game changer. I heard new exchanges like membrana and ezbitex in which I can say that will have a  bright future.

[Lexurdania]

Of course people will believe on successful personality like CZ. Binance is number 1so traders will definitely go where the volume is. Probably they are monopolizing the crypto world but this is business, a competition wherein survival of the fittest. I think it is not their fault that they have a great business plan for crypto.

Despite the popularity of the binance,They will face a range of challenges in the future,And is reflected in the emergence of strong competition from new companies in various forms in the provision of services.

I am confident in the further growth of this coin and stock exchange, because now they are fighting for liquidity, reducing commission fees. For me, Binance is the best exchange.

From what i am read, there is no fake volume in binance and this exchanger trusted by many peoples. I am agree that binance still best exchanger in crypto market because listed only good project and sometimes give free listing fee for good open source project

[Mr.Noda]

It is very bad that Binans becomes a crypto market monopolist. I hope this is not for long.

[ricardobs]

You're the second person I'm seeing that's saying this. Someone once mentioned this that binance might begin to manipulate the crypto space completely. Well, one thing I have always believed is that cryptocurrency is something that relies on the power of the people, so it's up to the people on whether they want binance to control this space or not, it's completely up to people. If they allow them, then they will, but if they stand and refuse and do what they are supposed to do then it's not going to happen.

[Mr.Zero]

did it will happen ? i don't see like that.
i think binance will never be a crypto monopoly like you said, but OK that is unique statment.
we can see Binance exchange is te biggest exchange in cryptocurrency that make a million dollar volume trading every day.

[knuckey]

So what should all crypto communities do to thwart this monopoly? Because with the popularity of binance today, it is very difficult to prevent it and it cannot be done alone or individually.

[GrosWesh]

Binance is a well done site, very functional and that occupies a very important position today. This is in large part due to all the innovations that the site has shown, it is a forerunner in several areas. However, I personally keep a distance because I think there is necessarily a shadow part behind this success. 

For example, when the team keeps reminding us that its 'dex' is completely decentralized, I invite you to watch the following video that tends to prove ... the opposite  

https://www.youtube.com/watch?v=xXmYxN8g2TQ

[r32godzilla]

Now it is very easy for Binance and CZ to control the entire crypto market.
But how Binance become the biggest crypto exchange? What they extra offered?