Binance launched a P2P crypto trading platform, Alipay: Hold up....

[s92225]

I think it is quite strange that they didn't come to a compromise since the usual Chinese government way of doing things is to centralise everything and control to increase "Harmony"

My bet goes with Binance because crypto will not be stopped, it is a global thing and if Chinese are not able to join, it's their loss, the remaining population are to be using P2P to trade happily without them.

2 Giant Chinese companies clash, who will win? What do you think? How about other exchanges like Huobi/ OKEX/ ANX, do you think they are a worthy opponent to Binance? XD

Source: https://www.forbes.com/sites/billybambrough/2019/10/17/chinas-alipay-and-bitcoin-exchange-giant-binance-in-shock-clash/#13b3ac3c3924

[gentlemand]

I can't believe Binance were naive enough to think this could work.

The real P2P stuff is happening just fine between individuals in private on low key and neutral platforms. One of the world's biggest crypto companies expecting to wade in and be facilitated by a government puppet is ludicrous.

[CryptoBry]

I am sure that eventually the Chinese government will be opening the huge market in China even just for Bitcoin, but it is going to be hard to predict when this can be. Right now, the government sacrificed the opportunity to collect revenues from possible cryptocurrency transactions in favor of not allowing something that it can never control because of Bitcoin's decentralized nature. I am sure that Binance is trying to communicate with some financial regulators in China for the possibility of doing good business in the country. So when this market can be opened again? Only time can tell.

[Mandoy]

Binance has many projects and they are also financing some companies anywhere in the world. So I guess its the nature of binance to be really a serious business network. The P2p crypto trading platform of binance will surely click and I am 80% sure of that. Whenever people see a coin or ICO will be listed in binance they sure will take the opportunity to buy that coin with the believe that binance is a great exchange and the price really will go up. The reputation of binance is really high compared to other exchange and that is why people will support its projects including the p2p crypto trading.

[s92225]

This is hard for exchanges (Binance / okex / etc...) to have succeeded in their P2P platform since china has the RIGHT to ban their IP and make it inaccessible. And the force of State-owned companies is just too much for private (well, at least semi-private ) companies to fight in mainland China.

[gentlemand]

This is hard for exchanges (Binance / okex / etc...) to have succeeded in their P2P platform since china has the RIGHT to ban their IP and make it inaccessible. And the force of State-owned companies is just too much for private (well, at least semi-private ) companies to fight in mainland China.

It's stupid of them to even consider getting involved in P2P in jurisdictions where centralised companies have been shut out. That's not what it's for or how it works. If they tried to sneak their way into the market all they'd be doing is delaying their eventual closure.

By all means provide some tools. If you provide a platform then you're already toast even if you don't know it yet.

[malevolent]

I can't believe Binance were naive enough to think this could work.

Neither can I. If I could bet, I'd say they had some deal going on which fell through or someone important who has the say in the end said 'no'. It hurt their credibility to have situations like these occur.

[s92225]

This is hard for exchanges (Binance / okex / etc...) to have succeeded in their P2P platform since china has the RIGHT to ban their IP and make it inaccessible. And the force of State-owned companies is just too much for private (well, at least semi-private Huh Huh) companies to fight in mainland China.

[joniboini]

https://twitter.com/Alipay/status/1182244458730901504

Well well, Binance and Alipay relationship is awkward now.

It's crazy if you think about it, how one company uses another service that is publicly denying that they will serve them.

[error08]

I can't believe Binance were naive enough to think this could work.

The real P2P stuff is happening just fine between individuals in private on low key and neutral platforms. One of the world's biggest crypto companies expecting to wade in and be facilitated by a government puppet is ludicrous.

But it seems really works as CZ claimed; "In the first 24 hours since launching, the service volume was $1.5 million in volume,"
There must be a way for Chinese citizens to buy and sell bitcoin without getting caught attention, don't know how but it eventually operates. Let's see if it can survive there or blocked through a hard way by the government.

[s92225]

Short live CCP what can I say 

You could stop binance but you wouldn't be able to stop crypto!