Quote from: John Abraham on June 07, 2023, 04:01:31 PM

Quote from: Gachapin on June 06, 2023, 05:21:39 PM

Quote from: John Abraham on June 06, 2023, 04:22:16 PM

You should not be surprised. The Bitcoin users (Us) should remain anonymous. But, we are the people who give the chance to Binance for doing shit. People Compromise their Privacy to them just to use their service while they are not a real P2P Platform. They have become a giant and can control the Bitcoin market if they want. If the 1K Bitcoin Movement can affect the market and it goes down by more than 10%, How much Market will it go down if Binance sells its Half Million Bitcoin? Not your keys, not your coins. Binance users won't be able to do shit if they become bankrupt. Binance becomes a Giant, and they can control the market if they want.

Look at the comparison of Bitcoin Volume of the last 24 Hours.

99% Trading volumes on the Centralized market. We are the people who gave them this power. You cannot deny that Binance news even matters!

many pushed Binance to where they are today

but not everyone uses Binance.

with all their shitcoin p&d schemes they were shady from the get-go

I Just Noticed you changed your post. It was like you and some others maybe.. not everyone uses Binance
If you think it's me and some others, who can trade 22% of the Total Trading volume on Binance, then it's me and some others.
These are ridiculous stats. Bitcoin 24 Hours trading volume on CEX was $24,274,100,680. While only Binance users traded $5,299,047,621. 22% Of total trading volume. However, I did not count tons of small trading pairs.

Binance Still holds half a million Bitcoin. If something happens with Binance like FTX, be ready for a massive crash.
Eventually, BTC will recover. But people who lose their funds are unlikely to recover their losses.

Data Collected from;
https://www.coingecko.com/en/exchanges/binance
https://coinmarketcap.com/currencies/bitcoin/

All we can do is ask people not to rely on centralized exchanges.
People will still do it and ignore every warning you give them.

Quote from: theymos on February 20, 2019, 11:06:13 PM

Honestly, I think that someone that naïve can't be protected. Even if every inch of the page had been full of warnings, he still might've fallen for it,

Two Months ago, I wrote an post about centralized exchanges TOS.
You may find it interesting; Do you know what is hiding behind Centralized exchanges User Agreement?

you are right. I adjusted my wording. Initially, I wanted to poke you a bit because you said "We are the people who gave them [Binance] this power", because I think there are a lot WOers who would never use stupid "Crypto"-Casinos like Binance (me included).
But I decided it might come off a bit offensive so I changed my post. (Yes I try to be sensitives from time to time Cheesy

)

I'm totally with you though. Too many idiots shuffled too much money to these Casinos...
I think one of the reasons is that it's easier to interchange coins and fiat on a CEX compared to a DEX.
Other reasons are gambling lust and laziness to store your digital assets by yourself (afaik only 10% of holders do self custody)

If Binance really holds 0.5M BTC this will always be a risk, of course. But did they do a prove of reserve? I wouldn't be surprised if they lied to everyone. But even then, FTX had almost no Bitcoin at all and the Bitcoin marked still crashed.

I think the best way to mitigate this risk is to push self custody... That will take some time as all this stuff is new tec and people need to get used to it and smarten up...