61–70 of 309 posts
I'm not defending Binance in any way, but this is FUD that is getting blown out of the water (arguably, people are on edge these days). It was pre-announced downtime for a hardfork on their BSC chain. https://twitter.com/cz_binance/status/1602510004795367424 It has caused a bit of a bank run and cz says things are processing just fine (along with tons of 3rd party confirmations). https://twitter.com/cz_binance/status…
Yikes. This could be the first inning of the Tether bubble deflating, and by extension half the crypto market.
Half is optimistic. Tether destabilizing probably drops all crypto over 90%. Don't think it will happen, necessarily, but it's largely the only thing keeping crypto together at this point, price-wise.
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
Not saying the rest of your comment is right or wrong but this part sticks out: > It's traded the world over by almost every country whether they want to or not. You can buy almost anything there is to buy with US dollars. That's definitely not true. Most places in the world, I'd wager, do not accept USD, as you seem to think. I can't even begin to count the times I've seen clueless American tourists in South America…
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
I'm not defending Binance in any way, but this is FUD that is getting blown out of the water (arguably, people are on edge these days). It was pre-announced downtime for a hardfork on their BSC chain. https://twitter.com/cz_binance/status/1602510004795367424 It has caused a bit of a bank run and cz says things are processing just fine (along with tons of 3rd party confirmations). https://twitter.com/cz_binance/status…
Or maybe crypto has always been a "giant ball of flaming fire" and HN is just trying to discourage people from throwing real money into it.
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
Not saying the rest of your comment is right or wrong but this part sticks out: > It's traded the world over by almost every country whether they want to or not. You can buy almost anything there is to buy with US dollars. That's definitely not true. Most places in the world, I'd wager, do not accept USD, as you seem to think. I can't even begin to count the times I've seen clueless American tourists in South America…
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
I think there is an important missing part of this argument that many of the current paths to move dollars around that network in the traditional system take either days to settle and/or cost quite a lot in fees. I see crypto having potential to optimize lots of things and introduce extra trust from a technical infrastructure standpoint. Right now my traditional money is sitting in several digital banks or brokerages…
> The world's biggest crypto exchange will freeze all withdrawals of USD Coin while it conducts a "token swap" to boost its holdings of the dollar-pegged cryptocurrency, the crypto group's CEO Changpeng Zhao said Tuesday It's worth noting that USDC is not even a token controlled by Binance. It's controlled and issued by Circle. So effectively, Binance is refusing to honor its commitment to depositors to give them the…
You could say the same thing about Eurodollars-- "US Dollar" denominated assets that are held in banks outside the United States and not subject to US Bank regulations. The size of this market is more than 10x all of crypto.
Crypto is where you go if you don't want any regulatory bodies at all.
Earlier quoted context omitted.
If you give me 100 USDC and I pinky promise to give them back but then I don't, whose fault is it? USDC's?
Really it depends on why you didn’t / couldn’t.