Quote from: tk808 on April 23, 2019, 11:01:41 PM

It's quite dangerous for a centralized exchange to monopolize crypto, from owning bandges to bullets; they want everything to come in contact with their ecosystem before crypto's actually see true success. But, Binance's recent movements is having the inverse effect, they are becoming a truly a dangerous threat to crypto entirely, this is in my opinion and sentiments.

Imagine Binance dictating which cryptos see success and which others fail, that's the direction we're headed in, or how they want us to perceive what Binance actually means. They've done a lot of good for crypto as a whole since they were founded, but CZ is trying to expand and monopolize everything, for: power, money and what's probably most important to him, his fame.

I suggest the community start being critical about these power-house exchanges, especially Bianance since they are the largest by a mile (discounting all fake-exchanges). IEOs are a small indicator towards the centralization of power, giving the big guys the authority to dictate which coins you should be investing in. Crypto was not founded by someone telling you which coins you should invest or not invest in, it's always been a cycle of growth and maturing.

There are ultimately many repercussions that will be seen, for what's occurring right now. They will not been seen in the short-term, but will have lasting implications for crypto as a whole.

Binance is beginning to look a lot like MT. Gox, but for a whole new era.

Edit: For more detailed explanation https://bitcointalk.org/index.php?topic=5135400.msg50745817#msg50745817
Edit 2: CZ Believes he can dictate the Bitcoin miners and blockchain, do to Binance's team incompetence. https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

The recent hack also makes the point clear why we need to diverge away from Binance. Depending on a single exchange for our trading needs would hurt us one way or other. If we just diverse, we'll be getting lighter blows.