SOS.BInance going to adquire coinmarketcap - crypto MONOPOLIZATION on way

[hatshepsut93]

Bitcoin was designed to be impossible to centralize thanks to proof of work and peer-to-peer network of nodes. The fact that some exchange buys some datamining site isn't really affecting the protocol. Maybe it's indeed bad news to some shitcoins whose survival depends on their market price, but Bitcoin is much-much bigger than that. One single exchange isn't a threat to it, it has seen much worse, like the attempts to fork it and force those forks on the community, and it survived them all.

[Lizzylove1]

Coinmarketcap and Binance are both centralized system, they can list and delist any project, while coinmarketcap is just a way of tracking prices and some other metrics it's the most popular market tracker. Binance is the exchange with the highest traded volume and this is is a centralized exchange. Binance acquiring the tracker is a way of expanding their business, anyone who cares to rival Binance should buy coingecko, no need for rivalry but a healthy competition.

[o_e_l_e_o]

The way all the information is going to be stored by a central entity.

I agree with your point here, but this is already happening on a massive scale. If you use Chrome, then Google already know which sites you visit and know all your logins. They know if you have a Binance account, they know your web wallets, they know which coins you own. If you frequently look up your own addresses on a block explorer, then they know your addresses and therefore your transactions too. This is, of course, all linked to your real identity, real name, real address. The same can probably also be said of anybody using Microsoft Edge and Windows 10, and Facebook probably aren't far behind with all the tracking cookies and scripts they use. Having a central entity track you like this is absolutely something that should be avoided, but Binance aren't the first, won't be the last, and aren't even close to the big league guys like Google.

And before you know it, Binance brand will literally own every single cryptocurrency service that the average joe will have access to.

But they won't own bitcoin. There will always be open source or decentralized alternatives to wallets, exchanges, marketplaces, etc. Just like there is with all things Google, all things Facebook, etc. These large data harvesting companies are nothing new, but it is entirely possible to live your life without interacting with them whatsoever.

Unforunately, we see time and time again that people do not care about their privacy, even people who are interested in bitcoin and cryptocurrency. The masses will always be more than happy to send their KYC to complete strangers or give shady companies unlimited access to all their private information in exchange for some minor convenience.

[fabiorem]

Cartelization will be good for crypto, as the price will only go up, thus increasing adoption. Greed for profit is the main reason why people buy bitcoin, and merchants wont adopt it if nobody is buying.

Binance is doing the first step in this direction. They could lead a Union of exchanges to tackle the permanent bear market we are facing at the moment, putting mechanisms in place, like circuit breakers for shorts, inflation of numbers in the marketcap, infinite printing of tethers, utility tokens, mining incentives, lower fees, etc. This will be good for bitcoin, bringing it back to its origins. People will flock in to buy, adoption will skyrocket and some day we will not need fiat anymore, leaving the debt system for good.

Those who are against it, are the same ones who screams "hodl" to newbies, expecting them to hold empty bags, while the market is liquidated to zero.

[jacafbiz]

Binance acquiring Coinmarketcap is the end of decentralization? I think you are over reacting. First of all, Coinmarketcap is just one of the many websites for tracking prices, volumes, and other crypto-related things. If you don't like the change in ownership, switch to other data aggregators like Coingecko, Bitcoinaverage, Cryptocompare, Nomics, and many others. Coinmarketcap is the most visited and most popular right now but it doesn't mean they are the most accurate and most trusted by serious traders.  

I think you underestimate the potential of Coinmarketcap.com, this is one of the most visited websites in the space and the most go to space for crypto prices, I believe Binance did their home work well before approaching them with an offer, this is going to draw alot of new users to their exchange, just analyse the amount of referers CMC has collected from users all this while.

About decentralization, I doubt this would move a needle, you can't blame a business for trying to integrate his/her business horizontally.

[Findingnemo]

Even Binance will fall someday so no need to panic if binance is going to something which causes loss to the crypto community or like manipulating the prices then the community will pick another option so Binance will lose their reputation so all they were trying is to make money nothing like manipulating anything.

[Ryutaro]

It's good news for me, Binance is a serious and legit exchange which contribute positively in some way to the image of crypto. They will definitely change and upgrade many things in CMC since it's the most frequented site providing info about crypto. I hope they delist all those fake exchanges and shitcoin, thus, reducing scamming activities.

[posi]

I believe the OP should know better that our opinion don't amount to something because the rightful judgment belong to capital market and if they choose to give it up to Binance so be it. Besides, this could bring some amendment of fake data information we once complain about.
Note : Could this be, the OP is fighting for himself cause he works for coinmarketcap and he might loose his position is the company is acquire by Binance?

Scared for being fired ?  


I would prefer to eat a bucket full of shit, that working for Binance! So I would leave inmediatelly if this comes true

[snip]

Then all my presumption were absolutely right because i scents that things won't good well between you and him if the acquisition went through but if Binance is unable to acquire Capitalmarket he will go for another crypto market capitalization rankings. If any case he he was able to acquire cmc and offer you something more better in terms of salary, will you still quit?

[Jaspion]

Bitcoin was designed to be impossible to centralize thanks to proof of work and peer-to-peer network of nodes. The fact that some exchange buys some datamining site isn't really affecting the protocol. Maybe it's indeed bad news to some shitcoins whose survival depends on their market price, but Bitcoin is much-much bigger than that. One single exchange isn't a threat to it, it has seen much worse, like the attempts to fork it and force those forks on the community, and it survived them all.

People always forget that there are tons of miners all around the world so its not only exchanges and its not only wallets and its not only users either, its all combined and binance is just a bigger piece of jigsaw puzzle

[stompix]

Monopolization?
Lol....

Just because a shitty exchange is buying a shitty website we're nowhere near-monopoly.
And monopoly on what, lists of shitcoins?
It's pretty funny how people cry "monopoly" on information while for years this website was also a monopoly regarding discussions and information.

Besides, no matter how much I dislike Binance, even if they have some dark plans with CMC, it can't be worse than how it's now!
Look at the exchange lists, look at the volume of some shitcoins, the website is a dump, it can't get worse.

what bothers me is that binance has a finger in every pie. exchanges, VC, token sales, "dex", trust wallet, visa debit cards, etc etc etc. meanwhile they're like hiding in some undisclosed location and don't follow any laws or pay any taxes. this will all end in tears someday.

I'm pretty sure CZ will end badly, the moment he started lying about everything being SAFU while on a plane running away from Japan it's clear he has made the wrong choices. Once the game with Malta is up he will have no place to go, all the pies he will get will be on visiting hours only.

Cartelization will be good for crypto, as the price will only go up, thus increasing adoption.

O yeah, cartelization is going to do wonders. Just look at oil. Flawlessly helping people since the '60s. 

Binance is doing the first step in this direction. They could lead a Union of exchanges to tackle the permanent bear market we are facing at the moment, putting mechanisms in place, like circuit breakers for shorts, inflation of numbers in the marketcap, infinite printing of tethers, utility tokens, mining incentives, lower fees, etc. This will be good for bitcoin, bringing it back to its origins. People will flock in to buy, adoption will skyrocket and some day we will not need fiat anymore, leaving the debt system for good.

Bro, if this is not sarcasm...I have no idea what it is. But share with me your provider as he obviously has some really good stuff to sell.

[ChiNgadOr]

I believe the OP should know better that our opinion don't amount to something because the rightful judgment belong to capital market and if they choose to give it up to Binance so be it. Besides, this could bring some amendment of fake data information we once complain about.
Note : Could this be, the OP is fighting for himself cause he works for coinmarketcap and he might loose his position is the company is acquire by

[snip]

Then all my presumption were absolutely right because i scents that things won't good well between you and him if the acquisition went through but if Binance is unable to acquire Capitalmarket he will go for another crypto market capitalization rankings. If any case he he was able to acquire cmc and offer you something more better in terms of salary, will you still quit?

I believed in Binance, i bought a decent amount of tokens during ICO.
I was working gor a project and we received a listing fee of $1.6Millions, other were asked up to $2.4M. Cz denied all this. Then punp and dump coins.. BTT FET.. where just a few were able to join while binamce and friends were doing lot of money. Then lack of transparency of binance charity (which was created to end with criticism) where was proven transfer were returned some times to binance wallets. Then the blockchain's rollback suggested after their hack..

My parents taught me that some things can NOT be bought with money.
My disappointment was rising  and at the end decided: I am done with that exchange. i got ethics, moral, honor.. sold all my tokens despite i knew they will rise

[Lucius]

I know that you are in love with me , but I am sorry to tell you I got a complicated life already with a girlfriend and a child.. a stalker won't make it better.  
oh by the way.. you can keep following me and posting as much as you like, but your messages are from now ignored by me

My condolences to your girlfriend and baby, it will be really hard for them to live with such a liar and fraudster like you. Your homosexual insinuations are just an indication of your psychic problems, and I keep huge distance from people like you, you are worse than corona+Ebola together.

Just putting me on Ignore only shows your character, but you are actually ignored by everyone in this thread...

Please someone quote this post, so this psychopath read what I wrote..

[examplens]

I know that you are in love with me , but I am sorry to tell you I got a complicated life already with a girlfriend and a child.. a stalker won't make it better.  
oh by the way.. you can keep following me and posting as much as you like, but your messages are from now ignored by me

My condolences to your girlfriend and baby, it will be really hard for them to live with such a liar and fraudster like you. Your homosexual insinuations are just an indication of your psychic problems, and I keep huge distance from people like you, you are worse than corona+Ebola together.

Just putting me on Ignore only shows your character, but you are actually ignored by everyone in this thread...

Please someone quote this post, so this psychopath read what I wrote..

Here is a quote for reference for you, though I didn't follow the whole discussion.
I expected different discussion here but it seems something going wrong here.

[Bttzed03]

Trust wallet, WazirX, Coinmarketcap (if the deal goes through), and I bet he is planning to purchase more. If some crypto companies won't be able to handle the economic crash caused by COVID-19, I would not be surprise if they might as well sell to CZ. I can't remember well but I think they posted something about buying new exchanges too. They want everything.

[Finestream]

That would be good, what is happening in normal life is happening, big companies buying small companies, or destroying them.
If Binance will acquire more exchange, that would be good, these exchanges will grow and we will have more room for new projects to get listed in a reputable exchange. The world BINANCE seems to be very popular in the space, I would not be surprise if they will boom very soon.

Trust wallet, WazirX, Coinmarketcap (if the deal goes through), and I bet he is planning to purchase more. If some crypto companies won't be able to handle the economic crash caused by COVID-19, I would not be surprise if they might as well sell to CZ. I can't remember well but I think they posted something about buying new exchanges too. They want everything.

[stompix]

Trust wallet, WazirX, Coinmarketcap (if the deal goes through), and I bet he is planning to purchase more. If some crypto companies won't be able to handle the economic crash caused by COVID-19, I would not be surprise if they might as well sell to CZ. I can't remember well but I think they posted something about buying new exchanges too. They want everything.

And?
We should stop them, right?
Let's have some antitrust laws, then let's put tax brackets, let's regulate everything 

I find it funny how people are complaining about this and the only thing that can help them right now it's the same government they blame for everything bad int the world. Kind of ironic, isn't it? A free market with no intervention where everybody should conduct their business as they see fit is good till it hurts your own interest, then we forget about it and want rules and regulations.....

Understandable, after all, ideals can't keep a belly full

[posi]

Then all my presumption were absolutely right because i scents that things won't good well between you and him if the acquisition went through but if Binance is unable to acquire Capitalmarket he will go for another crypto market capitalization rankings. If any case he he was able to acquire cmc and offer you something more better in terms of salary, will you still quit?

I believed in Binance, i bought a decent amount of tokens during ICO.
I was working for a project and we received a listing fee of $1.6Millions, others were asked up to $2.4M. Cz denied all this. Then punp and dump coins.. BTT FET.. where just a few were able to join while binamce and friends were doing a lot of money. Then lack of transparency of binance charity (which was created to end with criticism) where was proven transfer were returned some times to binance wallets. Then the blockchain's rollback suggested after their hack.

My parents taught me that some things can NOT be bought with money.
My disappointment was rising and at the end decided: I am done with that exchange. i got ethics, moral, honor.. sold all my tokens despite i knew they will rise

Now i understand the reason why you don't want the acquisition to push through and i respect part that you don't lose your dignity but to be honest, most of the so-called popular Businessman and Billionaire does almost the same thing. Besides, there's no more genuine transparency in crypto sphere anymore cause every setting have cheated at some point.

Maybe this is an April Fool’s joke? 
just a little in advance

No, it not. He have already posted the link his claimed.

[pugman]

Okay first off, I never thought of Binance acquiring coinmarketcap, and I started to wonder why when I saw this thread, but reading the article, CoinMarketCap has twice the amount of visitors(207 million in the last 6 months) as opposed to Binance having 113 million visitors.

Overall,good move, but the article also says Binance has been on an acquisition spree, and have apparently hired at least 9 firms in the last year, and that's lot considering how apolcalyptic the market has been. And now that the whole coronavirus pandemic has caused what no one expected to, I don't know if spending 400 Million on acquiring CoinMarketCap is the way to go. Not that the pandemic has anything to do with this, but I assure you the aftermath of this is going to rain shit and piss all over the global market, and that 400 Million would be more worth to invest somewhere.

CZ is smart, so if he is actually persistant on this deal, he has better plans in his mind. He's either going to rip Cmc into pieces, or he's going to fully Binance-ize whole of CMC.

[bbc.reporter]

It appears that Binance added a metric where they are the no.1 hehehe.

In any case, whatever Chanpeng Zhao's real motivation behind it, it is clear that it will be the least reliable metric because faking it is easy. I reckon the farmed accounts of clickbots will be back for work hehehehe.



CoinMarketCap updates exchange ranking system to include Web traffic

Crypto data aggregation site CoinMarketCap has unveiled a new change how it ranks exchanges, and now includes a metric of Web traffic as part of that calculation.

The change went live on Thursday after CMC announced the move in a May 13 blog post. "In most cases, with crypto being a retail-driven market, for an exchange to have high volumes, it needs to have a large number of retail traders (i.e. buyers and sellers). Instead of asking exchanges to submit their user numbers, a good intermediate proxy will be web traffic," the site's team wrote, adding:

"As such, we have designed the Web Traffic Factor in this iteration. It takes into account an extensive range of data points, including pageviews, unique visitor count, bounce rate, time-on-site, relative ranking and keyword searches on major search engines."a

Source https://www.theblockcrypto.com/linked/65288/coinmarketcap-exchange-ranking-update-binance

[o_e_l_e_o]

It appears that Binance added a metric where they are the no.1

How convenient.

Not only did they include this new metric, but it of course is the default sorting option, making them appear as number one.

I wonder if their "web traffic" includes all the traffic they generate from their newly launched widget that they have embedded in every single new tab which is opened in every single instance of Brave browser? Call me cynical, but I wouldn't be surprised at all if this was all planned out from the start.