Quote from: Bonanzacoin on October 18, 2017, 11:14:51 AM

Quote from: xinzark on October 18, 2017, 10:36:56 AM

False promises of Binance

In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?

What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.

They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.

i totally agree with this. WHAT DOES BUY BACK MEAN? !!!!

I will not let binance to take this money so easily. I will be posting an article about this on steemit in some hours