Quote from: CryptopreneurBrainboss on Today at 10:54:55 AM

Quote from: Gormicsta on Today at 10:30:56 AM

Binance isn't Number one global CEX for nothing, they didn't just get there by mere luck or because they're fortunate, it shows that they have a very strong team and men of experience under their sleeves, so completely taking down Binance would be almost impossible in my own thoughts. I stand to be corrected though.

They got there due to monopolizing the industry and it isn't because they did something different in the service they're providing. Their exchange isn't any different from other centralized exchange so they can always been taken down.

Exactly my point, they're offering the same services other CEX is offering so the big question remains why they were able to monopolize their business while not doing anything special or different from what their opponents and competitors were doing. Monopoly is very strong marketing tool and not everyone can take advantage of it, correct me if I'm wrong, it takes resilience and extreme innovative insight to be able to monopolize your business in the midst of your competitions, it only means Binance wasn't just lucky, there was a brain behind that. And keeping the business in shape and ahead of other competitions requires another level of work. Meanwhile I didn't say it's impossible for Binance to crash, I said it's almost impossible, and it wouodbtake more than this conspiracy to take it down. Taking down businesses with this structural framework would be from the inside and not the outside, with the scale of 1 to 10 if I'm to rate Binance's chances of crashing within a couple of months as you implied earlier, I'd rate 2. The money Binance was fined was also for the investigation to be discontinued if I'm not mistaken, and Binance on the other hand being fully aware right now that there's a loophole in their end would go extra mile to make sure the loophole is covered. So I doubt that further implicating evidence would surface that would result to Binance's final take down.

And yes I may be a Newbie on the forum and I admit that I have a lot to learn from OGs like you, but regardless that fact, i believe that no man is a monopoly of knowledge, I do my findings so to help me argue with fact and not fallaciously (if there's a word like that) before I joined the forum I believe I have somewhat level of knowledge about Bitcoin and I came here to broaden the knowledge and learn more. I argue to learn and change my current mindset if I'm convinced beyond doubt so I shouldn't suppose my current rank should be equated with my capacity of knowledge about Bitcoin.

I still believe that this scandal isn't enough to pull Binance down, well time would tell if Binance can withstand the hit or if it'll collapse within a couple of months as you've predicted. Like @JayJuanGee would say, I'd like to go on a friendly bet with you on this issue, but unfortunately for me, I don't have the luxury of going on friendly bets. Cheesy