Binance is trying to calm investors, but its finances remain a mystery

Post by gilrain » Mon, Dec 12, 2022, 1:29 PM UTC

jrm4 wrote: post #63

Gigachad wrote: post #50

Earlier quoted context omitted.

I just can't see how crypto can recover tbh. What other technology spent ten years, produced basically nothing of value, is almost universally hated by the whole population and then came back to be something useful? It's not like quantum computing where we just don't know how to make it work. There are close to no technical problems, the core idea just doesn't work.

The core idea does not work for many, if not most, of the things people have promised it can work for -- but that's very different from "doesn't work." I'd say it's still a pretty strong contender not for "cash in hand" but for a better "money in your mattress."

Post by hef19898 » Mon, Dec 12, 2022, 1:40 PM UTC

nova22033 wrote: post #198

https://www.reuters.com/markets/us/us-justice-dept-is-split-... WASHINGTON, Dec 12 (Reuters) - Splits between U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest cryptocurrency exchange Binance, four people familiar with the matter have told Reuters. The investigation began in 2018 and is focused on Binance's compliance with U.S. anti-mo…

Post by gilrain » Mon, Dec 12, 2022, 1:42 PM UTC

netheril96 wrote: post #120

Gigachad wrote: post #50

Earlier quoted context omitted.

I just can't see how crypto can recover tbh. What other technology spent ten years, produced basically nothing of value, is almost universally hated by the whole population and then came back to be something useful? It's not like quantum computing where we just don't know how to make it work. There are close to no technical problems, the core idea just doesn't work.

> is almost universally hated by the whole population Haters do not move the market at all, unless they are willing to short the coins. Only the participants, whatever their intentions are, move the market.

Post by Kukumber » Mon, Dec 12, 2022, 1:43 PM UTC

logicchains wrote: post #138

Kukumber wrote: post #57

Earlier quoted context omitted.

Coinbase will not survive, they already lost credibility due to their insider trading issue [1,2] Coinbase also originates from wallstreet, hence why Binance is way more popular (Binance has 10x more daily volume!!! [3]), despite Coinbase having more PR presence This FUD is another evidence that someone wants to take down Binance, they dodged the poison/trap with FTX, looks like they'll have to dodge another one real…

>Coinbase also originates from wallstreet, hence why Binance is way more popular (Binance has 10x more daily volume!!! [3]), despite Coinbase having more PR presence Binance is more popular because Coinbase's fees are almost an order of magnitude higher..

Post by totalZero » Mon, Dec 12, 2022, 1:48 PM UTC

sneak wrote: post #42

bushbaba wrote: post #3

Binance is even more shady than FTX. They are most likely not solvent. Personally, I'd move all my funds off binance to off-exchange wallets for the time being.

For the time being? Keeping your funds on an exchange (or in a bank) means they are, quite literally, not your funds. If you don't want the risk of loss, don't give your money to second parties .