Is there anyone else who shares the same sentiments?

[TravelMug]

The reason why the bitcoin market is not reacting so much to the SEC and Binance issue as much as we may have expected is because it appears to be more of a social attack rather than a direct attack on bitcoin network protocol, mining operations or blockchain technology. The market would have reacted differently if it was an attack on the network. Am I correct? I don't know much about the technical aspect of Bitcoin, but this is the best possible explanation I can think of for what is happening. Is there anyone else who shares the same sentiments?

I think you need to read the lawsuit and see that it was not a direct attack on bitcoin per se, but rather on some altcoins that SEC deems to be securities. So if investors will just have to read between the line, the price shouldn't be affected and that's what we have seen. We went down to $25k, and then bounce back to $27k. Now it's going back again to $26k and I think it will remain in this sideways pattern. I'm not really sure what you meant by social attack though, SEC bring the lawsuit so it's obvious that they are in the offensive right now.

[Darker45]

Well, that's probably it. An attack on Binance is not an attack on Bitcoin. As KingsDen clearly spelled out, Binance is not Bitcoin. If I may add, Binance is a business entity solely created to make money. That's it.

Binance has been the subject of so many attacks through the years, some successful, some not. But all of them are never really directed at Bitcoin. So they all don't really matter. Just as Mt. Gox, Cryptopia, FTX, and many other centralized exchanges vanished while Bitcoin continued to remain alive, Binance could also die anytime and Bitcoin will stay on.

[Zilon]

Binance is not bitcoin, binance is an exchange.
Even if Binance winds up today, Bitcoin will still exist.

Yeah if Binance winds up today Bitcoin will still exist but it will affect the price at that moment because it will halt demand to an extent since not all Bitcoin investor understands that Binance is a mere exchange. The circulating supply too will be affected. Exchange has a big role to play in Bitcoin price just that their impact is not permanent but it must be felt on the market.

[Velemir Sava]

The reason why the bitcoin market is not reacting so much to the SEC and Binance issue as much as we may have expected is because it appears to be more of a social attack rather than a direct attack on bitcoin network protocol, mining operations or blockchain technology. The market would have reacted differently if it was an attack on the network. Am I correct? I don't know much about the technical aspect of Bitcoin, but this is the best possible explanation I can think of for what is happening. Is there anyone else who shares the same sentiments?

The first thing I looked at was Market Perception and Investor Confidence. The cryptocurrency market is very sensitive to news, regulatory developments, and market sentiment especially recent SEC and Binance issues, meaning that, negative news or regulatory scrutiny can still create uncertainty and undermine investor confidence.

The lack of significant market reaction to this issue could indicate that investors are taking a wait-and-see approach or have factored in the event into their investment decisions and is also a testament to Bitcoin's robustness and resilience as a decentralized system. However, it is important to know that market reactions may vary, and the absence of an immediate impact does not mean that the market is not affected or that all participants share the same sentiments.

[Lida93]

I don't know how anyone could come up with a controversial sentiment about the issue between bitcoin and binance and how that got to relate with or ought to affect bitcoin. Except they don't know any better, cause in this very case one doesn't need to be of the technical-know-how to understand that binance and bitcoin has not connectivity as binance is just like every other exchange we can think of. Traders should be worried about BNB not BTC.

As for binance am optimistic they're gonna pull through all of these issues with the SEC as we all can perceive it's just an attack based on sentiment only that it's just not in my place to utter the obvious at least not yet.

[Adbitco]

Binance is not bitcoin, binance is an exchange.
Even if Binance winds up today, Bitcoin will still exist.

Absolutely correct!
But one thing we should know is that despite they are not the same we should understand it may have a little impact on the market meaning causing a little bear reaction due the US citizens panicking to sells off their assets on Binace exchange but after some while the market gets back it's stability. Whatever that happens to any exchange today would definitely have a negative impact on Bitcoin and altcoin price despite not relatively affected to their chains and although the turbulence may not last for a longer period of time for the affects currencies to gets back their feets. I have witnessed some exchange that was affected and instantaneously leads to price decrease within an interval of the event.

[Mpamaegbu]

The market would have reacted differently if it was an attack on the network. Am I correct? I don't know much about the technical aspect of Bitcoin, but this is the best possible explanation I can think of for what is happening. Is there anyone else who shares the same sentiments?

The sluggish reaction of Bitcoin (or the entire crypto market) to the negative news orchestrated by SEC and Binance tussle is, in my opinion, goes to show that the market is maintaining a bullish mindset. Yes, we know that Binance isn't Bitcoin and that Bitcoin is decentralized but we shouldn't jettison what ripple effects are. If this same happenstance had come up in 2022, I'm sure the entire market would've taken a beating just like what happened when the FTT exchange had issue.

[AbuBhakar]

Binance is not bitcoin, binance is an exchange.
Even if Binance winds up today, Bitcoin will still exist.

Absolutely correct!
But one thing we should know is that despite they are not the same we should understand it may have a little impact on the market meaning causing a little bear reaction due the US citizens panicking to sells off their assets on Binace exchange but after some while the market gets back it's stability. Whatever that happens to any exchange today would definitely have a negative impact on Bitcoin and altcoin price despite not relatively affected to their chains and although the turbulence may not last for a longer period of time for the affects currencies to gets back their feets. I have witnessed some exchange that was affected and instantaneously leads to price decrease within an interval of the event.

This is true but sadly crypto people mostly on social media hanging out is too dumb to realize that Binance or CZ doesn’t represent Bitcoin at all. Many supporter saying that they need to support CZ for crypto future while crypto especially Bitcoin will continue to exist and traded on other exchange.

Binance is just another exchange and we crypto people are already trading Bitcoin before the existence of Binance. Other exchange will surely step up to replace Binance in case they will collapse like FTX. We just need to brace ourselves on this temporary drawback but rest assured everything will gonna be fine.

[Mate2237]

The reason why the bitcoin market is not reacting so much to the SEC and Binance issue as much as we may have expected is because it appears to be more of a social attack rather than a direct attack on bitcoin network protocol, mining operations or blockchain technology. The market would have reacted differently if it was an attack on the network. Am I correct? I don't know much about the technical aspect of Bitcoin, but this is the best possible explanation I can think of for what is happening. Is there anyone else who shares the same sentiments?

Bitcoin is a decentralized asset so it is not possible to attack by SEC or any other government agencies. Binance is a centralized exchange platform which probably have offices across the world and pay tax direct to the state government and probably it has breach the agreement with government and that is why sec is going after them. If not Binance has been on Operation for more 3 years and sec didn't find any fault till this year. From my looking, there is something wrong between the two parties.

[_BlackStar]

Bitcoin is a decentralized asset so it is not possible to attack by SEC or any other government agencies.

The SEC can't attack bitcoin directly - but they ^{[certain governments and organizations]} can still attack exchange platforms, wallet companies, miners, and anything they think could destroy the market.

Binance is a centralized exchange platform which probably have offices across the world and pay tax direct to the state government and probably it has breach the agreement with government and that is why sec is going after them. If not Binance has been on Operation for more 3 years and sec didn't find any fault till this year. From my looking, there is something wrong between the two parties.

Binance is definitely centralized exchange platform - so you shouldn't trust them 100% for investment funds. Governments can attack them at any time - even Binance can freeze your assets for some reason. They are subject to the laws of any country in which they operate, so legal hurdles and lawsuits are inevitably at risk when one of them found to be in breach of contract.

[CryptSafe]

OP I think you should know this. Bitcoin has been in existence years before the inception of  binance exchange so I see no way an attack on binance would affect bitcoin. Years back bitcoin faced attacks much stronger than this which almost everyone thought it would be difficult bit it sprang up very fast and stronger than it used to be. I think you should do your research properly so you could know more about the happenings around bitcoin years before now. Binance experiencing any form of attack does not in any ways affect bitcoin. How about that of the BRC20 attack are you still hearing about it again?
Bitcoin has stood the test of time and definitely there is nothing anybody could do to go against it anymore. The more the perceived attack on bitcoin, the higher it goes and the more popular it becomes.

[hugeblack]

What surprised him was that the SEC's decisions were not only against Binance, but also targeted more than 15 platforms soon and in a limited market such as the US market.
Bitcoin has become too big to be affected by such news, and if it was clearly affected, we are still far from public adoption of this technology.
Binance has a clear influence on the altcoin market, so if anything happens to this platform, most of the altcoins will be affected, although I will not deny its impact on the price of Bitcoin.

Side note: Binance working hard to defend BNB at $220 price

https://twitter.com/JoeConsorti/status/1668723869794926595

[Taskford]

To many fuds exist already and this exchange issues is not new so most provably investors are now aware that some people use this issue to manipulate them. And it didn't work since they just ignore the news and continue with their investments rather than focusing on things that can't actually kill bitcoin and crypto.

Maybe there are some got panic when they hear the news but since there are small number of people feel this way it didn't create any big impact that's the reason why we see bitcoin still standing strong despite of that kind of news released.

[Alpha Marine]

Whilst we saw how BRC20 craze made the network clogged, the price wasn't moved by inch of it but only the fees.

Maybe you didn't notice but at the peak of that period, Bitcoin price just kept going down. I can't tell for sure if the network fees were the main reason for the downward movement of Bitcoin during the time, but Im fairly certain it was part of the factors. I had a certain amount of Bitcoin I was supposed to use for payment of something at the time, I decided to wait and see if the price will come up so I can make a little profit from it but it just kept going down till I ended up making a loss  . It's funny when I think of it because greed caused that for me.

[Bushdark]

Binance is not bitcoin, binance is an exchange.
Even if Binance winds up today, Bitcoin will still exist.

Yeah if Binance winds up today Bitcoin will still exist but it will affect the price at that moment because it will halt demand to an extent since not all Bitcoin investor understands that Binance is a mere exchange. The circulating supply too will be affected. Exchange has a big role to play in Bitcoin price just that their impact is not permanent but it must be felt on the market.

I think the problem is more of the SEC and centralized exchange like Binance and the effect might not be complex now until the sec is able to send Binance out of the US which I know is the reason why Garry is fighting so hard on the exchange. The is not going to be easy per say because he is been accused of manipulations and this might affect his reputation if he is find guilty.
There are many things going on which I know that this fight is not going to stay long we think because of the issues behind it. People had been calling for the sack of Garry and if this continues, it might not end well for the president of Sec.