Subnostr

nobody 2y ago

CZ has never seemed like a grifter or scammer to me. Just a bit of a geek who was able to build a popular crypto exchange.

I've never used Binance or intend to, but either he's an unassuming guy who flies under the radar ... or he wants it to seem like such.

I've never read anything bad about his character etc. Seems like no one has a scandalous things to say about him.

I'm not saying any of my take is true... but it's an observation from my view.

Maybe the same could and was said about SBF before FTX imploded?

Maybe I'm being to cautiously optimistic?

I low key want Binance to succeed though. I can't fully articulate why. I'm not into "crypto" and centralized exchanges are 'not the way'. But I don't want Binance to implode.

Maybe it's because I know a lot of decent and well intentioned ppl will get rekt if it does. Maybe it's because I want a kid who worked at McDonalds and the local summer fair as a teen to succeed (CZ).

Maybe I'm wrong and Binance is a hindrance to Bitcoin.

Things don't have to be black or white. I'm OK with that.

But FTX saw a lot of ppl get hurt and back off of anything crypto related. Even Bitcoin. These were good people who trusted their friends or family. I don't want this to happen again.

Maybe there's a path where Binance loses sway and influence because WE all do such a good job of orange and people pilling people to decentralized exchanges and self custody. And FOSS. And privacy platforms. And web5. And Binance gets pushed to obscurity/niche tokens.

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Discussion

freecritter 2y ago

Nice 📝💜🤙

I never liked CZ’s 💩 🪙 casino but with the charts nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx recently posted it’s clear #binance is the strongest HODLer of the exchanges.

nobody 2y ago

Same. I saw his reserves today too (if accurate).

Wild stuff.

Yeah the casino crypto stuff isn't good at all.

TKay 2y ago

It doesn’t matter if CZ is an angel or the devil himself.

We buy and move the coins to hww.

nobody 2y ago

I'd say the character and actions of a guy in his position matter.

Imagine you suddenly couldn't move any of your coins. And now your account is frozen.

This happens more than you might like to think!

TKay 2y ago

Why wouldn’t i be able to move my coins?

nobody 2y ago

Not your keys not your cheese.

There have been tonnes of cases where centralized exchanges go under right after people sent them money.

Or freeze withdrawals. Or... just disappear overnight.

FTX, Quadriga, Mt. Good etc...

https://originstamp.com/blog/how-many-crypto-exchanges-have-failed/

nobody 2y ago

Lol. *Mt. Gox

There's nothing food about that one. Darn autocorrect.

TKay 2y ago

Not really sure where this conversation got confusing. Im saying buy and move your coins to a hardware wallet.

Doesnt matter how bad the exchange is.

Entropy 2y ago

I have the opposite take. I see CZ as being very reserved and low key because that's what smart grifters do to stay under everyone's radar. He's operating a casino, and knows that virtually everything he is peddling is garbage. He even cooked up his own vaporware coin.

As to the harm done to people when/if binance collapses... I mean honestly I have sympathy for anyone who loses their shirt to a scam, but it's 2023. How many centralized exchanges have to rug people before the lesson is learned? If you are using money for anything, ESPECIALLY investment, you perform due diligence or you probably get rekt. I wish it weren't so, but that is reality.

Anyone who gets hurt by giving an exchange their private keys today either knew and acknowledged the risk, or needs to learn the hard way. And in either of those cases it's a self inflicted and entirely avoidable wound.

If any large exchange goes bust it will precipitate a distribution event, where cheaper sats will flow to those who respect the asset enough to self custody. This is great for Bitcoin in the long run.