Binance case shows that crypto community is stronger than ever

[Nawrod]

I've read quite interesting article on BlockChain24.co, with a very encouraging view on Binance case. After exchange hacked, many people from crypto world decided to help it, in the name of greater good. I think this is a strong message that crypto community working together is an unstoppable force. What do you think?

[MarcusGates]

Binance is not that awesome as you would think. They might be 1st in alexa rank as they are hyped. but volume wise, they are at 10th place.

so not everything revolves around Binance, there other exchanges that drive Bitcoin price, not Binance.

[Nawrod]

Binance is not that awesome as you would think. They might be 1st in alexa rank as they are hyped. but volume wise, they are at 10th place.

so not everything revolves around Binance, there other exchanges that drive Bitcoin price, not Binance.

I'm aware of this, and I don't state that this is the best one (I don't even trade there). But the willingness to help and solidarity of community is something what I highly appreciate

[Felisk99]

Binance is not that awesome as you would think. They might be 1st in alexa rank as they are hyped. but volume wise, they are at 10th place.

so not everything revolves around Binance, there other exchanges that drive Bitcoin price, not Binance.

Well, I understand your statements, but let's be honest, people are talking shit about binance right now, due to the recent events, and after the whole thing will lost its urge, binance will recover. It's true, their security should be better (like the security of every other exchange, let's face the truth), but the support from all of those people mentioned in the article is a proof that binance is still huge.

Great article btw, i completely forgot that John McAfee is still alive ;d

[okala]

Binance is not that awesome as you would think. They might be 1st in alexa rank as they are hyped. but volume wise, they are at 10th place.

so not everything revolves around Binance, there other exchanges that drive Bitcoin price, not Binance.

No one is saying that binance topping in trading volume what we are looking at is how the entire cryptocurrency community rally round them in time of the hacked that just happened on the exchange and leading among them was coinbase blocking all deposits of large amount when the get Hint's of the hack to prevent easy movement of the bitcoins being Stolen this show great commitment of the cryptocurrency community.

[maxell_etheridge]

I can't accept the fact that they are saying that "we won't pursuit those hackers". Someone stole from you over 40 millions $ and you aren't going to do nothing with it? I can't believe those words, sorry.

The article states that "What is even more reassuring, is the fact that the price of Bitcoin hasn’t dropped after the theft. We may be witnesses of a new approach to hacks and robberies from the cryptocurrency market". Bitcoin is on a rise right now, and such theft didn't have much influence on it's price, it's true, and it's good for the whole crypto community.

The whole case shows that you can steal 7k btc from one of the biggest exchanges in the world, and everyone is fine with this. I understand the whole community support, but it pisses me off, that those people are going to walk off the scene unpunished ;-;
That's what terrifies me the most.

[matt7]

While I do find that support a good thing to hear about, I'm wondering on how will that impact the BTC prizes. I mean - about 4% of the total bitcoins were stolen.

[Arbat33]

When things like that happen, it really does show how much the decentralised blockchain is better over the normal banking structures. Could you imagine people rallying like that if any FIAT bank was a victim of this theft? No.

[Kemarit]

LOL, Did you guys read the article being posted? Haven't you noticed two names that pop up in that article who said they are willing to lend a hand? Both of them are shill and not worth listening to.

[1] - Justin Sun
[2] - John McAfee

Do you really think that this guys 'genuinely' wanted to help or to the ride the hype, which these two are very fond off. So this article as usual as being posted for clickbait and ad revenues.

[Duzter]

Earlier whenever some news comes relative to some form of hack from exchanges or from some cold storage the market usually crashes big. These crashes used to happen due to the FUD that gets spread around. These days people are much aware about the market and this seems to be the reason for the market to be stronger than ever.

[Genemind]

That hacking incident even made the crypto situation better. Bitcoin's price is increasing and despite the controversy,
traders still trust Binance. It only means that Crypto enthusiast couldn't get affected by negative news that fast.
Crypto foundation is standing firm during this situation.

[Broly46]

I can't believe how you came to conclusion so quickly. You know I'd contacting my lawyers now and summoning Binance to the court of justice to prove themselve NOT guilty! And I don't want to listen to any excuse, if Binance do not appear within the time frame of 21 days, I'm sure they would be in the FBI most wanted list of criminals pursuit, they better be preparing their butt.

[TopTort777]

That hacking incident even made the crypto situation better. Bitcoin's price is increasing and despite the controversy,
traders still trust Binance. It only means that Crypto enthusiast couldn't get affected by negative news that fast.
Crypto foundation is standing firm during this situation.

You think that two events "Binance exchange being hacked and Bitcoin price growth" are connected ? Doubt that.
Traders still trust Binance, because they have a SAFU (secure asset fund for users). Without that fund, many will abandon this exchange, but thanks to insurance like SAFU, they still use it.

[MarcusGates]

Well, I understand your statements, but let's be honest, people are talking shit about binance right now, due to the recent events, and after the whole thing will lost its urge, binance will recover. It's true, their security should be better (like the security of every other exchange, let's face the truth), but the support from all of those people mentioned in the article is a proof that binance is still huge.

Great article btw, i completely forgot that John McAfee is still alive ;d

He still has to eat his pecker. This is why the Lord of Light still keeps him alive.

[BrewMaster]

haha, nice clickbait article on yet another newly sprouted website that is posting bitcoin related news. those dudes that the article mentioned who are offering a "helping hand" are not the "crypto community" as you think. they are selfish people who take advantage of any opportunity to get the "spotlight" even momentarily. there literary is no event that you don't see McAfee in it. he always arrives like a weasel

[jvdp]

I've read quite interesting article on BlockChain24.co, with a very encouraging view on Binance case. After exchange hacked, many people from crypto world decided to help it, in the name of greater good. I think this is a strong message that crypto community working together is an unstoppable force. What do you think?

They are lifted their own reserve in that transaction and I read that many people saying binance are using that fund for their new decentralized exchange project since they payment issues with regulations side.
I am not sure why they allow their own coin to dump this much in the marketplace.
As a team they are pulling all the things to heights everywhere.

[Ailmand]

Users understanding about cryptocurrency, its capability and resistance to different issues is getting broader. It's an advantage because the community unites and they know how to deal with these incidents. We all know what to defend and I guess it's an improvement and an indication that we are also ready to face bigger problems in crypto world.

[Haunebu]

That hacking incident even made the crypto situation better. Bitcoin's price is increasing and despite the controversy,
traders still trust Binance. It only means that Crypto enthusiast couldn't get affected by negative news that fast.
Crypto foundation is standing firm during this situation.

You think that two events "Binance exchange being hacked and Bitcoin price growth" are connected ? Doubt that.
Traders still trust Binance, because they have a SAFU (secure asset fund for users). Without that fund, many will abandon this exchange, but thanks to insurance like SAFU, they still use it.

You misunderstood his point. He was trying to state that Bitcoin price was mostly unfazed by recent negative news like the Binance hack, Bitfenix and Tether controversy etc which proves that BTC has improved drastically over time.

[dothebeats]

It's because the cryptomarket had already matured and understands that throwing stones on a hacked exchange only makes matters worse and nothing's changing unless something's done to help the recovery of the said exchange. The days of bashing hacked exchanges are long over and people are just helping each other as long as the operators are willing to cooperate with law enforcement and users who are affected by the hack. Well, props to Binance for using the SAFU fund to cover the losses, it helps maintain the credibility of the cryptocommunity.

[pawanjain]

While there are a good number of people supporting Binance for what happened there are some haters who are criticizing Binance as if it was wholly their mistake.
I agree it was partially their mistake and they have themselves agreed on this by saying that they have learnt a lesson from this.
Scams like this happens all the time in crypto but we must learn to get a lesson from it and move on and Binance has acknowledged this fact.