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Author Topic: Is Binance too big to fail?  (Read 1754 times)
Dexion
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June 03, 2021, 11:23:35 AM
 #101

Agree Binance is already too big to fail. Especially Binance is the biggest market in cryptocurrency so i don't think they gonna fall in the future. If they don't make any stupid mistake, i believe this coin will keep growing bigger then bigger every year.

It will only be a joke to those who think binance will fail, as you said, binance is currently the biggest market in crypto plus more people are switching to binance instead of eth which has high transaction fees, the binance project is also getting more and more, so chances of failure very little.

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June 03, 2021, 12:11:36 PM
 #102

Yes Binance is probably the best exchange at present time. They have done all the hard work not to fail and as we are looking they are doing more hark hard work then earlier. These days every project has a dream to list on binance that's why Binance is great and not easy to fail. Any exchange can beat binance with their hard work and honesty.

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June 03, 2021, 10:01:57 PM
 #103

Let's put it like this: we all agree it is BIG! But can it fail? Well any company can fail. Make a mistake, innovate the wrong way or not at all. Many reasons why out of a sudden it could be game over. Wouldn't be the first tech company to die although nobody expected it.

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June 03, 2021, 10:17:13 PM
 #104

I believe the Binance exchange should not fail rather than fail. And yes, I'm worried, I think there shouldn't be strong centralized companies on the blockchain.

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June 03, 2021, 10:27:34 PM
 #105

Binance has been growing so successfully because of their efforts to make it and how CZ and their team are really professional and experienced in creating such a crypto market. And yeah, not only the crypto market but they are really smart to utilize every single field to come into, like creating coin, BSC, acquisition more exchanges from around the world, and many other programs. And now, Binance also proves its professionalism and ability as the top exchange. And well, it may not make any centralized. How?

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June 03, 2021, 11:19:09 PM
 #106

What are your thoughts? Is Binance too big to fail? If not, why? Do you think Binance has too much power/influence over the crypto/Blockchain industry? How will it affect crypto (either positively or negatively) in the long term? Your input will be greatly appreciated. Thanks in advance. Smiley

I agree that Binance has a strong impact on the bitcoin economy because almost half of volume trading is dominated by them. and I think they are always trying to give their best by supporting new coins and projects that they believe will have the potential benefit for their customer and also for any parties that involved.
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June 04, 2021, 04:41:25 AM
 #107

I agree that Binance has a strong impact on the bitcoin economy because almost half of volume trading is dominated by them. and I think they are always trying to give their best by supporting new coins and projects that they believe will have the potential benefit for their customer and also for any parties that involved.

I am not sure whether they have half of the trading volumes with them (would be really surprised if they have, because even at its peak Mt Gox never held this much market share). However, I have to admit that over the last few years they have made a large number of acquisitions, which mostly involved small and medium sized exchanges. This has significantly boosted their overall trading volumes. Also, there is the trust factor. Binance is one of the most trusted exchanges in the world right now.


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June 04, 2021, 01:42:00 PM
 #108

I agree that Binance has a strong impact on the bitcoin economy because almost half of volume trading is dominated by them. and I think they are always trying to give their best by supporting new coins and projects that they believe will have the potential benefit for their customer and also for any parties that involved.

I am not sure whether they have half of the trading volumes with them (would be really surprised if they have, because even at its peak Mt Gox never held this much market share). However, I have to admit that over the last few years they have made a large number of acquisitions, which mostly involved small and medium sized exchanges. This has significantly boosted their overall trading volumes. Also, there is the trust factor. Binance is one of the most trusted exchanges in the world right now.

No they don't have half of the trading volume, but they have 2.5 times as much as the second largest exchange in terms of trading volume. That is quite impressive data. I don't see that gap closing anytime soon as they continue to expand their operations.

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June 04, 2021, 02:12:04 PM
 #109

Binance has grown into a force to reckon with since its establishment in 2017. In just 4 years since inception, Binance dominates the crypto market being the largest cryptocurrency exchange in the world. Its most successful venture has been the launch of a public smart contract platform dubbed "Binance Smart Chain". The native cryptocurrency "BNB" went from being worth cents to hundreds of dollars (USD) in just a few years since inception.

It seems to me that Binance has huge influence over the crypto/Blockchain industry. Sometimes I wonder if the world's biggest crypto exchange is too big to fail. With no signs of decline, Binance is on a road to widespread success in the mainstream world. This is bad because it'll make crypto heavily centralized.

What are your thoughts? Is Binance too big to fail? If not, why? Do you think Binance has too much power/influence over the crypto/Blockchain industry? How will it affect crypto (either positively or negatively) in the long term? Your input will be greatly appreciated. Thanks in advance. Smiley

Binance is one of the strongest coins right now. Binance has a large community to make the coin more active. Apart from that, the Binance exchange is the main choice of crypto users today, thus, support for the Binance coin will be higher compared to others.
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June 04, 2021, 02:30:03 PM
 #110

Binance has grown into a force to reckon with since its establishment in 2017. In just 4 years since inception, Binance dominates the crypto market being the largest cryptocurrency exchange in the world. Its most successful venture has been the launch of a public smart contract platform dubbed "Binance Smart Chain". The native cryptocurrency "BNB" went from being worth cents to hundreds of dollars (USD) in just a few years since inception.

It seems to me that Binance has huge influence over the crypto/Blockchain industry. Sometimes I wonder if the world's biggest crypto exchange is too big to fail. With no signs of decline, Binance is on a road to widespread success in the mainstream world. This is bad because it'll make crypto heavily centralized.

What are your thoughts? Is Binance too big to fail? If not, why? Do you think Binance has too much power/influence over the crypto/Blockchain industry? How will it affect crypto (either positively or negatively) in the long term? Your input will be greatly appreciated. Thanks in advance. Smiley

Binance is one of the strongest coins right now. Binance has a large community to make the coin more active. Apart from that, the Binance exchange is the main choice of crypto users today, thus, support for the Binance coin will be higher compared to others.

Binance is actually different compare to other exchanges in the past, the reason for its success is because they don't limit the development on the exchange alone, they have their own mainet and they continue developing. Binance is already big, but any project could fall, big or small, however, I trust Binance so I'm investing in its future without a doubt.




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June 04, 2021, 02:37:21 PM
 #111

There is no doubt that Binance has achieved huge popularity so far and it has became a brand itself in crypto space and from the current state of binance it looks more progressive so it looks impossible for this exchange to be fail nevertheless it's all depend on the services of Binance exchange if the exchange keeps providing good services and user experience then this exchange has a wonderful future.

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June 04, 2021, 05:44:16 PM
 #112

As we all know, it actually is pretty obvious how deep rooted binance already is in this industry. And all throughout the years of its existence, the number of people using their service continued and still continues to increase from its launch date up to this day. And with all the new things that binace has contributed to this industry, the number of people that would be using their services can only go up. Which is why I am pretty sure that binance being out of business or failing is like saying bitcoin will die. Not entirely impossible but very unlikely or has very low chance of happening.
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June 04, 2021, 05:52:59 PM
 #113

Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.

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June 04, 2021, 06:27:40 PM
 #114

This is inevitable, any company strives to increase profits, which means covering many industries. Of course the influence is huge, but why should she fail? Of course, if she goes against the cryptocurrency world then it will be a failure, then the whole point is lost. I think it can be compared with Google or Apple.
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June 06, 2021, 11:20:22 PM
 #115

Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.

No, it is THE biggest exchange by far. Just go to coinmarketcap and check the data and you will see how overwhelming their number 1 position in the overall ranking actually is.

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June 06, 2021, 11:27:17 PM
 #116

Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.

No, it is THE biggest exchange by far. Just go to coinmarketcap and check the data and you will see how overwhelming their number 1 position in the overall ranking actually is.

People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.

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June 08, 2021, 03:25:41 PM
 #117

Definitely not to big to fail.  Wait until serious players start entering the crypto exchange game.  Exchanges are only as good as the latest fad.  Another exchange can easily catch on and blow them away.  Remember poloniex, Remember mintpal, crypts, etc etc.

We'll see what happens within a couple of years from now. Binance may be the biggest crypto exchange in the world. But its dominance could fade quickly if another exchange gains traction in the mainstream world. It's all a matter of staying ahead of the game in order to beat other rivals in the crypto/Blockchain space.

What's concerning is the huge supply of crypto Binance controls/holds up to this date. Once Binance goes down the drain, it'll take down the whole crypto market with it. There will be a massive "bloodbath" in crypto's prices that will lead towards decreased mainstream adoption of crypto/Blockchain tech. While recovery is certain, it'll take quite a long time for everything to go back to the way it was. I hope Binance doesn't turn into Mt. Gox 2.0 or we'd be toast. Just my thoughts Grin

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June 08, 2021, 04:01:06 PM
 #118

Definitely not to big to fail.  Wait until serious players start entering the crypto exchange game.  Exchanges are only as good as the latest fad.  Another exchange can easily catch on and blow them away.  Remember poloniex, Remember mintpal, crypts, etc etc.

We'll see what happens within a couple of years from now. Binance may be the biggest crypto exchange in the world. But its dominance could fade quickly if another exchange gains traction in the mainstream world. It's all a matter of staying ahead of the game in order to beat other rivals in the crypto/Blockchain space.

What's concerning is the huge supply of crypto Binance controls/holds up to this date. Once Binance goes down the drain, it'll take down the whole crypto market with it. There will be a massive "bloodbath" in crypto's prices that will lead towards decreased mainstream adoption of crypto/Blockchain tech. While recovery is certain, it'll take quite a long time for everything to go back to the way it was. I hope Binance doesn't turn into Mt. Gox 2.0 or we'd be toast. Just my thoughts Grin

Binance is too big to fall drastically or turn into Mt. Gox, It's much more regulated both self and external. The probable fall of binance would come as a competition. But like dethroning something as bitcoin, it would be difficult to dethrone something like Binance. Exchange like FTX seem a good option but even that uses many aspects of binance and is linked to it.
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June 08, 2021, 04:12:15 PM
 #119

Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.

No, it is THE biggest exchange by far. Just go to coinmarketcap and check the data and you will see how overwhelming their number 1 position in the overall ranking actually is.

People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.
Yeah right, there are many fake transaction still and traders and investors are aware now.

But given that fact Binance continue to take the first spot and still have many supporters and end users, the dominance still
on it and for now, this business are continuing to estabslish the  long term progress, too big to break and fail as for my personal opinion.

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June 08, 2021, 09:59:09 PM
 #120

Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.

No, it is THE biggest exchange by far. Just go to coinmarketcap and check the data and you will see how overwhelming their number 1 position in the overall ranking actually is.

People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.
Yeah right, there are many fake transaction still and traders and investors are aware now.

But given that fact Binance continue to take the first spot and still have many supporters and end users, the dominance still
on it and for now, this business are continuing to estabslish the  long term progress, too big to break and fail as for my personal opinion.

Binance is tested through time already, there's no guarantee that they'll continue to be this big and strong but we can expect that the team will continue to work as they don't want to let go of the big revenue they are enjoying now. I just like Binance of all the big exchanges, our fear in the past that an exchange will be a hack and will be gone seems was already properly handled by Binance as they continue to develop the project and its security.

Binance was the first exchange that has SAFU funds IIRC, they got hack and yet looks like nothing happened, that's how smart they are or the team managing Binance.




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